INSURERS TO RESOLVE 9/11 DISPUTES

A number of major U.S. insurance companies agreed to resolve inter-insurer disputes in relation to the Sept. 11 acts of terrorism through unfacilitated negotiation and mediation, rather than in court. The CPR Inter-Insurer Dispute Resolution Commitment for Disputes has been signed by CNA, Chubb Group of Insurance Companies, Allstate Insurance Co, Fireman’s Fund Insurance Companies, Great American Insurance Company, Kemper National Insurance Companies, Nationwide Insurance Company, REM (on behalf of Home Insurance Company) and Royal & SunAlliance USA. Including these entities’ affiliates, more than 60 companies have joined the effort. For signatory companies, the CPR Commitment covers disputes of any nature related to the terrorist attacks that occurred in New York, Pennsylvania and Virginia on Sept. 11. It applies to all claims arising under all policies of insurance. Participants have agreed to work through such disputes, but do not give up their rights to arbitrate or litigate.

Topics Carriers