One of the Biggest Insurance Disputes is Finally Settled

WNYC News | Jul 12, 2010

New York, NY —

The long-standing dispute over the insurance proceeds resulting from the 9/11 attacks has finally been settled. The developer Larry Silverstein and the Port Authority will collect $2 billion from a group of 7 insurers.

REPORTER: Governor Eliot Spitzer said the settlement was the final hurdle to rebuilding at Ground Zero.

SPITZER: These are, needless to say, some of the largest insurance carriers in the world the claims involved here are of an enormity that is almost unmatched, and we believe that the settlement that we are announcing today is the largest single insurance settlement in history. Anywhere, anytime.

REPORTER: The $2 billion settlement comes on top of another $2.5 billion that was collected earlier.

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