The governors of New York and New Jersey and the mayor of New York City threatened this afternoon to sue World Trade Center insurers if they fail to make payments to develop the site.

"Our patience is wearing thin," New York Gov. George Pataki said in a statement, approved by Gov. Jon Corzine and Mayor Michael Bloomberg. "The stakes are far too high."

Gov. Pataki said the three have asked the Port Authority and Silverstein Properties to start legal action within the next several days "if the insurance companies continue to be unresponsive."

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.