World Trade Centre leaseholder Larry Silverstein has lodged an appeal with a US court arguing that the Twin Towers attacks should be ruled as two events for insurance purposes.
World Trade Centre leaseholder, Larry Silverstein, has lodged an appeal with a US court arguing that the Twin Towers attacks should be ruled as two events for insurance purposes.
A successful motion would pave the way for the buildings' owner, the Port Authority of New York, to collect $7bn (£4.3bn) from its insurers.
The port authority and Silverstein want to overturn the previous ruling on the basis that the insurance coverage was based on a form used by Traverlers policy form which gives no clear definition of the word "occurrence".
Silverstein's spokesman Howard Rubenstein told Insurance Day: "Travelers cannot change the meaning of the word 'occurrence' depending on what is best for its balance sheet.
"If four separate courthouse fires started by a single arsonist counts as four separate occurrences as a matter of law, then the two separate fires started in two separate buildings as a result of two separate crashed count as two occurrences as a matter of law as well."
The insurers say the attack was one event, which would be worth only $3.5bn.