Seen in the New York Times:
The Spitzer administration announced the settlement of all insurance claims at ground zero today, ensuring that $4.55 billion will be available for rebuilding the World Trade Center site.
The agreement, which the insurers described as the largest single insurance settlement ever undertaken by the industry, brought to an end a protracted and often bitter legal battle with insurers over payouts related to the Sept. 11, 2001, terrorist attack.
I know a few insurance execs and claims managers will be happy to get that claim out of the case reserve column and over into the paid bucket.
Now, if only something could be done about my wife’s five year-old auto insurance claim, which is still hanging around in limbo.