Reply #302: Here:

[deconstruct911]

Dr.Debug writes:

"WTC building insurance and ownership

What were the 3 companies who insured the WTC?

AIG, Marsh and ACE. All run by Greenbergs at the time.

They then sold stakes of the original contract to their competition, a process called reinsuring. Once the towers came down, the reinsurers got caught holding the bag."



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In this case the timing is odd
Edited on Sat Jul-01-06 01:03 PM by DrDebug
The lease went to Larry on 24 July 2001 (1) and before that AIG was the main insurer and they moved the policy to their main competitors. So ultimately the Greenberg cartel paid $365 million and their competitors in excess of $4.5 billion. (2)

So not only did all the building change hands to Larry, but also AIG made their competitors responsible for the damage and put in the WilProp clause on their contracts, because Larry did a little bit of insurance fraud as well and collected almost double from the rest.

Not to mention that Larry got the contract due to the Blackstone group which once again links in AIG.

Sources:
1. http://www.globalresearch.ca/articles/CHO403B.html
2. http://www.ny1.com/ny1/content/index.jsp?stid=203&aid=5...
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=125x97281#97307

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"AIG made their competitors responsible for the damage"
Interesting topic.

"Lloyd's shared some of A.I.G.'s risk at the World Trade Center by selling it insurance known as reinsurance. Now Lloyd's must reimburse A.I.G. and other American insurers for some of their losses in the attacks."
http://www.nytimes.com/2001/10/23/business/23LLOY.html?...

Does anyone know if Lloyd's coverage for AIG was specifically property or aviation or both?
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=125x97281#304443