ProgramBusiness
 
  


  1. News Articles
  2. Related News Articles
  3. Comments
News Article Details

Deadline Extended for Workers to Opt-in for WTC Captive Settlement

Source: Business Insurance


Posted on 27 Aug 2010

Facebook LinkedIn Twitter Google

The deadline to opt into a settlement has been extended by a month by the WTC Captive Insurance Co., from September 8 to November 8.

The additional time will allow rescue and recovery workers to decide whether to accept the settlement for lawsuits they filed against New York City over exposure to contaminants sustained in the September 11, 2001 terrorist attack on the World Trade Center.

According to WTC Captive Insurance, more than 5,000 plaintiffs—or more than half of those eligible—already have opted in to the settlement, which could be worth up to $712.5 million. Less than 0.5% of those eligible have rejected the agreement.

In addition, the captive said that it will move $625 million into a separate settlement account on Aug. 30 in anticipation of meeting the 95% opt-in threshold required to make the settlement effective.


Comments

Post a Comment
If you are a Storefront / Tradingfloor user, click here to login.
Note: As a guest user, please fill out the form below to post a comment.
Post your comments here.
Name :
Email Address :
Captcha :
Comments :
Character left : 2000