A major claim from the terrorist attack on the World Trade Center on Sept. 11, 2001 was settled recently by William Kramer & Associates, an Avon, Conn. property and casualty claim adjuster, who helped finalize a $700,000,000 claim for Lehman Brothers with their six insurers.
When the World Trade Center towers were attacked Lehman Brothers, a 150-year-old global institutional investment bank, lost access to its 6,000 employee world headquarters building at 3 World Financial Center. The $2.8 billion company could not reoccupy the building for 14 months.
By Nov. 15, 2002, William Kramer & Associates reached final agreement between Lehman and its six insurers to pay the full extent of its coverage – $700,000,000 – with the last payment made Jan. 5, 2003. Marsh USA senior vice president Keith Meerholz, the insurance broker on the Lehman account, believes the Lehman Brothers claim is the first of the mega-claims from the N.Y.C. terrorist attack to reach final resolution.
“Things went very smoothly,” Meerholz said. “But, the adjuster is only as good as the client they are working with. If Lehman wasn’t so on the ball, and if they did not have the good risk management department they do, this claim would not have been settled as quickly.”
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