Judge rules insurers can treat WTC attack as one event

A US judge has ruled that Royal & SunAlliance, Hartford Financial Services and St Paul Cos are required to make only one payment in respect of the WTC attacks.

The Manhattan judge ruled that the insurers are bound by documents that define the 11 September attacks as a single event.

Judge Martin was ruling against World Trade Centre (WTC) leaseholder Larry Silverstein, who had claimed that the attacks on the WTC were two occurrences - entitling the leaseholders to two insurance payments.

The overall ruling requires insurers to pay only £2.3bn, instead of £4.5bn.

Other insurers have welcomed the news saying that a single-occurrence ruling is now likely for the other 19 insurers involved.

Experts have estimated the WTC rebuilding cost at about £3bn.