June 2007
In-sure : this month's roundup of developments affecting the insurance industry sees further moves towards the harmonisation of national insurance laws of EEA member states. Also in this issue, an In-Focus on "Solvency II – the way ahead"
A $2 billion settlement between Silverstein Properties, the developer of the World Trade Center, the Port Authority, and seven insurers ends a nearly six-year legal battle over the multibillion-dollar policy. The $2 billion is in addition to the $2.55 billion insurers of the site have already paid out since September 11, 2001 following the attacks that destroyed the World Trade Center. The agreement allegedly represents the largest settlement in regulatory history.
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