Insurers file $454 billion suit against al Qaeda, others.Prior to the second anniversary of the Sept. 11 terrorist attacks, five groups of insurers filed suit against the al Qaeda terrorist organization, five Middle Eastern states, a host of alleged terrorists and terrorist organizations, and several financial institutions, seeking 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. for $4 billion in property/casualty losses and as much as $450 billion in other losses for their roles in planning, financing, executing and assisting in the attacks. The complaint, filed Sept. 9 in U.S. District Court in Manhattan, seeks damages on behalf of Chuhb, American Re-Insurance Co.'s Direct Line subsidiaries, Zurich American Insurance Group, One Beacon Insurance Group and Crum & Foster Insurance Co. A companion suit to the case, Federal Insurance Co. et. al. vs. Qaida et. al., was also filed in federal court in the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . In addition to al Qaeda, other purported terrorist organizations named in the suit include Egyptian Islamic Jihad Noun 1. Egyptian Islamic Jihad - an Islamic extremist group active since the late 1970s; seeks to overthrow the Egyptian government and replace it with an Islamic state; works in small underground cells; "the original Jihad was responsible for the assassination of , Asbat Al-Ansar, Algama'a Al-Islamiyya, and the Salafist Group for Call and Combat. The suit also names the Islamic Republic of Iran, the Republic of Iraq, the Syrian Arab Republic, the Republic of the Sudan and Saudi Arabia as defendants. According to Elliot Feldman, chair of the National Subrogation and Recovery Department at Philadelphia law firm 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 and counsel for the insurers, the insurers will press the case for the parties' liability in the Sept. 11 attacks and then seek to obtain judgements from assets under control of the U.S. Treasury U.S. Treasury Created in 1798, the United States Department of the Treasury is the government (Cabinet) department responsible for issuing all Treasury bonds, notes and bills. Some of the government branches operating under the U.S. Treasury umbrella include the IRS, U.S. Department's Office of Foreign Assets Control The Office of Foreign Assets Control (OFAC) is an agency of the United States Department of the Treasury under the auspices of the Under Secretary of the Treasury for Terrorism and Financial Intelligence. OFAC administers and enforces economic and trade sanctions based on U. . Targets of Lawsuit In an attempt to recover $454 billion in 9/11/01 losses, insurers sued the following groups and countries: * al Qaeda * Egyptian Islamic Jihad * Iran * Iraq * Syria * Sudan * Saudi Arabia |
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