Hiscox announcement on WTC Jury verdict
The jury in Phase I of the Silverstein/WTC coverage trial returned a verdict yesterday.
The jury decided that the obligations of the London insurers who participated in the property insurance for the World Trade Centre (WTC) on September 11, 2001, were governed by the WilProp form.Prior court rulings establish that the WilProp form provides a single occurrence limit for all obligations arising out of the New York terrorist attack. Hiscox had reserved on such a single occurrence basis and previously paid the insureds its share of one full policy limit.
It is anticipated that the
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