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The WTC Controllers' New Insurance Policy

  • New lease-holders immediately obtained insurance policies on holdings.
  • Policies contained special 'terrorism' clauses.
British Financial Times:
the lease has an all-important escape clause: If the buildings are struck by "an act of terrorism". the new owners' obligations under the lease are void. As a result, the new owners are not required to make any payments under their lease, but they will be able to collect on the loss of the buildings that collapsed or were otherwise damaged or destroyed in the attacks.
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