Royal & SunAlliance USA, the American subsidiary of British insurer Royal Sun Alliance, which provided coverage for the World Trade Center, may not be able to pay the $250 million it owes developer Larry Silverstein and the Port Authority for 9/11-related coverage. While the amount represents less than 3 percent of the $9 billion estimated cost of the trade center’s development budget, Silverstein says the shortfall may force him to miss construction deadlines or scale back aspects of the project. more [NYT]
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$250M WTC insurer shortfall decried
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