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Silverstein Loses in Rulings on 8 of 12 Insurers; Jury Still Out on Swiss Re

BestWire/A.M. BestWeek's site - March 23, 2004

By David Pilla
Mr. Ralph Tortorella was quoted throughout the article. "For those insurers found to be bound by WilProp, this is a significant verdict," Ralph Tortorella, a partner with the catastrophic injury practice group of New York law firm Ropers Majeski Kohn & Bentley. Tortorella, who has not been a participant in the trial, said Silverstein will be able to appeal the verdict. "Such an appeal will likely be handled swiftly, given concerns over rebuilding at the World Trade Center site," he said. It is likely the jury is reviewing a mass of communications between Swiss Re and Willis, the broker on the World Trade Center property coverage, given that Swiss Re's share of the coverage ranged from the lowest layer to the highest, said Tortorella. "Based upon where Swiss Re was in the coverage scheme, at the lowest level of primary coverage, Swiss Re would have had much more communication with the broker and the client than insurers who were only at the higher levels of coverage," he said. "The jury is likely trying to decipher what all of those communications mean."