Lessons from The World Trade Center Insurance Litigation

The Proskauer Rose legal team, which represented policyholders in the post 9/11 litigation over the property and rental value loss insurance for the World Trade Center, invites owners, lessors, lessees and financiers of major office buildings, shopping malls, sports facilities, hospitals, universities and other real property to join for a discussion of how the WTC proceeding could affect the terms of your insurance policy and what you can expect post-loss.

The seminar will provide answers to key questions:

• One Occurrence or More?: Was the loss a single occurrence? A multiple occurrence? How is a determination made? What is the impact of that decision?
• Timeframes: If your property is destroyed, can it be replaced within two years and why does that matter?
• The "Law and Ordinance" Exclusion: What does the "law and ordinance" exclusion really mean?
• Policy Negotiation and Future Interpretations: Did you negotiate any of the terms of your policy and, if so, what effect could that have if a court ever has to interpret your policy?
• Rental Value v. Property Loss: What is the period of restoration for a rental value loss and how does it relate to the time to replace for a property loss?
• Actual Cash Value: What is the difference between actual cash value and replacement cost and when will they be paid?
• Impact of "Additional Insureds": What is the impact of those "additional insureds" listed on your policy when it comes time to adjust the loss?