Swiss Re challenges WTC claim - papers 23 October

One of the world's biggest insurance companies has taken the most aggressive step to date to put a ceiling on its losses from the attacks on the World Trade Center, reports this morning's FT. Swiss Re, in papers filed in a US federal court, has issued a legal attack on Larry Silverstein, leaseholder of the now destroyed twin towers, as it tries to stop two claims on Mr Silverstein's $3.5bn insurance policy that could double the industry's losses. Swiss Re faces the largest direct exposure from the destruction of the WTC complex. On Monday it filed papers seeking a "declaratory judgm...