Sign in to comment!

Menu
Home

U.S.

New York regulator seeks data from insurers in 9/11 case

New York's top insurance regulator has directed insurers to detail payouts and reserves for claims in the 2001 World Trade Center attacks in an effort to prompt settlement of the decade-old federal case.

Benjamin Lawsky, superintendent of the Department of Financial Services, says in a letter that ongoing claims against the two airlines and security companies, following the terrorist attack on the twin towers in Manhattan, has slowed redevelopment and "undermined public confidence in the insurance industry."

Developer Larry Silverstein has complained to the department about gridlock in settlement negotiations.

Federal law limited the insurers' liability and created a special fund that paid victim claims.

Remaining insurer liability is estimated at about $2 billion.

Lawsky also seeks the insurers' investment return rates since 2002 and their itemized bailout benefits.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.98% dw 4.08%  
15 Y Fixed Graph 3.09% dw 3.11%  
30 Y Fixed Jumbo Graph 4.20% -- 4.20%  
5/1 ARM Graph 3.20% dw 3.22%  
5/1 Jumbo ARM Graph 3.51% up 3.47%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.30% up 4.26%  
$50K HELOC Graph 3.97% up 3.95%  
$30K Loan Graph 4.99% -- 4.99%  
$50K Loan Graph 4.34% -- 4.34%  
$75K Loan Graph 4.36% -- 4.36%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.94% dw 2.96%  
36 M Used Graph 3.48% dw 3.50%  
48 M New Graph 3.19% dw 3.23%  
48 M Used Graph 2.99% dw 3.06%  
60 M New Graph 3.20% dw 3.25%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.39% dw 0.40%  
1 yr Graph 0.70% -- 0.69%  
5 yr Graph 1.55% up 1.53%