Judge Awards Insurers, Reinsurers $9.3 Billion in Damages Caused by Terrorist Attacks

NEW YORK - A New York federal judge has ruled that the militant Islamist terrorist organization al Qaeda is liable to several reinsurers and insurers for $9.3 billion in property and business damages arising from the Sept. 11, 2001 terrorist attacks. In re Terrorist Attacks on September 11, 2001, No. 03 MDL 1570, S.D. N.Y.).

On Dec. 16, Judge George B. Daniels of the U.S. District Court for the Southern District of New York adopted a magistrate judge's report and recommendation that plaintiffs are entitled to treble damages under the Anti-Terrorism Act (18 U.S.C. § 2331).

The insurers and …