It’s stuff like this that makes my head spin.
Was the WTC collapse one occurrence or two? – Fascinating article by Steven Brill in Newsweek on Larry Silverstein’s quest to recover from the various insurance companies that insured his investment in the WTC. At the center of the controversy is the question of whether the damage and collapse of the World Trade Centers was one event or two separate events. The insurance companies cap damages on a per-occurrence basis, so they want it to be only one event. There were two buildings so you would think that would resolve the question, and there are written contracts too, but…not so fast. It’s all very confusing, and the lawyers are working overtime to sort it all out. Welcome to the fascinating world of insurance litigation. [Ernie the Attorney]