Insurer CGNU has calculated the cost of its liability from Tuesday's terrorist attacks in the US to be less than £35m, after taking reinsurance into account.
It announced its initial estimate today (Thursday) in a statement which said: “CGNU plc would like to express its sorrow at the tragic events that took place in the US on September 11. We extend our heartfelt sympathy to those involved.
“Following these events we have reviewed our worldwide exposure to the potential insurance claims which may arise, including accident and life policies, business interruption, travel and some participation in aviation insurance.
“An initial estimate, after taking into account the extent and quality of the group's reinsurance arrangements, is that CGNU's total net liability is not expected to exceed £35m."
