9/11 Insurers' $9.3B Al-Qaida Claims Get Judge's Nod

Law360, New York (October 14, 2011, 8:49 PM EDT) -- A New York magistrate judge overseeing part of the multidistrict litigation over 9/11 recommended Friday that five insurance carriers receive $9.35 billion in damages stemming from the terrorist attacks after they obtained default judgments against al-Qaida in April 2006.

U.S. Magistrate Judge Frank Maas wrote in a report and recommendation that the insurers were entitled under the Anti-Terrorism Act to treble damages against al-Qaida for injuries that their insureds' properties or businesses sustained.

The suit is part of the federal insurance action in the multidistrict litigation...
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