March 11, 2010
New York — The WTC Captive Insurance Co. announced settlements Thursday with more than 10,000 plaintiffs who claimed sickness or injuries after the 9/11 terrorist attacks. The settlements could total up to $657 million.
WTC Captive was created with a $1 billion FEMA grant and provides insurance coverage to the City of New York and its debris-removal contractors. In the aftermath of attacks of September 11, 2001, New York was unable to get adequate amounts of liability insurance for the rescue, recovery and debris-removal work done at the World Trade Center site.
The settlement would provide a system to pay for the compensation of the injury claims made by people working on the rescue and debris removal for the city and its contractors. This would include construction workers, firefighters, police officers and other workers and volunteers. The settlement would also fund a special insurance policy, which provides additional compensation to any plaintiff contracting certain types of cancer in the future.
Christine LaSala, president of WTC Captive, said in a statement: “We have reached a settlement that is fair under difficult and complicated circumstances. This agreement enables workers and volunteers claiming injury from the WTC site operations to obtain compensation commensurate with the nature of their injuries and the strength of their claims, while offering added protection against possible future illness.”
This article was posted: Friday, March 12, 2010 at 12:56 am