INSURERS FILE $300 BILLION SUIT AGAINST TERRORIST GROUPS, NATIONS.Five giant insurance groups filed a lawsuit Sept. 10 against individual terrorists, terrorist organizations and five Middle Eastern nations on the State Department list of nations supporting terrorism - Iran, Iraq, Saudi Arabia, Sudan and Syria - for losses suffered in the September 11 terrorist attacks. The insurers - headed by Chubb, American Re, Zurich American, One Beacon and Crum & Foster - seek to recover $300 billion, including $200 billion in punitive damages Monetary compensation awarded to an injured party that goes beyond that which is necessary to compensate the individual for losses and that is intended to punish the wrongdoer. , for damages resulting from the attacks. Although insurers are more accustomed to being defendants in lawsuits, in this case they are not only plaintiffs but also said they would cooperate with attorneys for individual plaintiffs in the terror attacks as they seek to recoup claims paid out. "We will be working in tandem with attorneys who have filed wrongful death claims on behalf of their decedent clients to see that the 9/11 victims . . . are compensated from the terrorists' assets for their victimization victimization Social medicine The abuse of the disenfranchised–eg, those underage, elderly, ♀, mentally retarded, illegal aliens, or other, by coercing them into illegal activities–eg, drug trade, pornography, prostitution. ," said Elliott R. Feldman, who is co-counsel in the case and chairs the national subrogation The substitution of one person in the place of another with reference to a lawful claim, demand, or right, so that he or she who is substituted succeeds to the rights of the other in relation to the debt or claim, and its rights, remedies, or Securities. and recovery department of Cozen coz·en v. coz·ened, coz·en·ing, coz·ens v.tr. 1. To mislead by means of a petty trick or fraud; deceive. 2. To persuade or induce to do something by cajoling or wheedling. 3. O'Connor, the law firm filing the suit. The insurers are demanding a jury trial. In addition to the damages sought under each count of the complaint, the insurers seek treble damages A recovery of three times the amount of actual financial losses suffered which is provided by statute for certain kinds of cases. The statute authorizing treble damages directs the judge to multiply by three the amount of monetary damages awarded by the jury in those cases as provided for by the anti-terrorism statute and the Racketeer Influenced and Corrupt Organizations Act. The counts and damages sought under each: * Trespass upon the real and personal property of policyholders; at least $4 billion plus punitive damages. * Wrongful death of policyholders' employees; at least $20 billion ($50 million for each wrongful death assignor ASSIGNOR. One who makes an assignment; one who transfers property to another. 2. In general the assignor can limit the operation of his assignment, and impose whatever condition he may think proper, but when he makes a general assignment in trust for the use of ) plus punitive damages. * Survival action to recover for these employees' loss of the enjoyment of life, pain and suffering; at least $10 billion ($25 million for each wrongful death assignor) plus punitive damages. * Assault and battery upon these employees; at least $10 billion($15 million for each assignor) plus punitive damages. * Intentional and/or negligent infliction of emotional distress The tort of negligent infliction of emotional distress (NIED) is a controversial legal theory and is not accepted in many United States jurisdictions. The underlying concept is that one has a legal duty to use reasonable care to avoid causing emotional distress to another ; at least $10 billion ($20 million for each assignor) plus punitive damages. * Violation of the Torture Victim Protection Act intended to protect against extrajudicial That which is done, given, or effected outside the course of regular judicial proceedings. Not founded upon, or unconnected with, the action of a court of law, as in extrajudicial evidence or an extrajudicial oath. killings and torture; at least $25 billion ($50 million for each assignor) plus punitive damages. * Conspiracy to commit an act of international terrorism; at least $35 billion ($50 million for each assignor plus $4 billion for property damage and business interruption) plus punitive damages. * Violation of 18 U.S. Code 1964 (civil RICO RICO n. . ); at least $35 billion (treble damages of $150 million for each assignor and $12 billion for property damage and business interruption). * Aiding and abetting a·bet tr.v. a·bet·ted, a·bet·ting, a·bets 1. To approve, encourage, and support (an action or a plan of action); urge and help on. 2. al Qaida; at least $35 billion ($50 million for each assignor plus $4 billion for property damage and business interruption) plus punitive damages. * Violation of 18 U.S. Code 2333, the anti-terrorism statute; at least $35 billion (treble damages of $150 million per assignor plus $12 billion for property damage and business interruption) plus punitive damages. * Negligence in breaching the duty of care owed the insurers and their policyholders' employees; $35 billion ($50 million per assignor) plus punitive damages. * Punitive damages in excess of $200 billion ($300 million per assignor and $50 billion for property damage and business interruption). |
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