The WTC Controllers' New Insurance Policy
British Financial Times:
- New lease-holders immediately obtained
insurance policies on holdings.
- Policies contained special 'terrorism' clauses.
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.