Kalimantan Gull
Well-known member
I have said before I was a claims broker for Willis Towers Watson ( are you watching Titcomb - it’s gone six years now) and I collected millions on behalf of Gulf Insurance in relation to their £10m xs £10m excess of loss protection re their Silverstein liability.
There was something unusual about the way Silverstein had increased his cover and the endorsement precedent to liability that determined each tower would constitute two seperate events.
That is all.
Silverstein managed to claim approximately $4.6 billion. What isn't mentioned is that the total cost of the towers was significantly in excess of this — the insurance value was way below what it should have been. The total cost of the attack was in the region of $7 billion or more, leaving a considerable loss once the relatively measly insurance payout was claimed. With too low an insurance value and less-than-solid contracts, literally none of the insurance-based activities seem to point to the actions of people who knew exactly what was going to happen in advance. If it was an insurance scam, it was the worst ever.
The World Trade Center had already been bombed once before in 1993, and several major terror plots against U.S. landmarks had been uncovered since then. In light of this, an anti-terrorism insurance policy would appear to be an entirely logical purchase.
That is all.