Topic: Terrorism Risk and Insurance

S.D.N.Y. Opinion Supports Right to Recover Reinsurance Damages and Interest Dating Back to Terrorist Attacks in 9/11 Litigation

A recent S.D.N.Y. opinion authored by Judge Daniels, IN RE: TERRORIST ATTACKS ON SEPTEMBER 11, 2001, 2018 WL 3323159, in an ongoing multidistrict litigation, concluded that reinsurer-plaintiffs seeking to recover damages from aiders and abettors of the 9/11 terrorists are entitled to recoup amounts paid under reinsurance contracts. 

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McRaith Offers Additional Information on the April 13 Deadline for TRIA Disclosure Notices

Michael McRaith, the Director of the Federal Insurance Office, has offered useful information regarding the TRIA disclosure notices to supplement the February 6 interim guidance. The interim guidance called for an April 13, 2015 deadline for insurance companies to deliver certain TRIA-related notices to policyholders.

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