16/03/2010
The WTC Captive Insurance Company has agreed to settle claims up to a value of $657m filed by around 10,000 plaintiffs.
The plaintiffs claim they were injured as a result of the cleanup operation following the 11 September 2001 World Trade Center attacks.
According to WTC Captive president and CEO Christine LaSala, speaking in a media conference call, the settlement includes a cancer policy covering plaintiffs who will receive up to an additional $100,000 if they develop certain types of cancer.
These claimants weren't eligible for inclusion in the Federal September 11th Victims Compensation Fund because they had developed symptoms after the deadline to apply for relief from the fund, said Kenneth Feinberg, special master for Troubled Asset Relief Program compensation.
The settlement will provide compensation to city workers and contractors including construction workers, firemen and police officers. This payment is additional to the free medical care entitlement given to workers and volunteers involved in the rescue and cleanup operation
According to a statement from the WTC captive, plaintiffs will have 90 days to review the settlement before they are required to 'opt in' to the terms of the agreement, which preclude the opportunity for making future claims against the city and its contractors.
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WELCOME TO THE Captive Review Cell Company Handbook 2009 – the second edition of our global directory of cell company jurisdictions. Since we last published this directory, the general attitude toward cell companies seems to have shifted up a gear. Whereas single-parent companies have long ruled the captive roost, a slight uptick in the formation of pure captives at the beginning of this year can’t hide the fact that growth in this market is still sluggish.
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