WTC Loss Lower Than Expected
The final insured loss from the terrorist destruction of the World Trade Center will be nearly $8 billion less than the $40.2 billion projected several years ago, according to the Insurance Information Institute.
Robert Hartwig, executive vice president and chief economist at the New York-based industry association, said his latest analysis would put the loss figure at $32.5 billion. He said that one factor reducing the amount was payments from the federal Victim Compensation Fund.
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