Who held the insurance policies on these buildings?
Larry Siverstein owned the the five trade center buidings, I don’t know about the one you mentioned. Please do your own research.
FReepapalooza
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No, the WTC buildings were and are owned by the NY Port Authority — an agency of the New York State government in cooperation with the New Jersey State government. That is why security was provided by the New York City police, a division called the Port Authority Police.
Silverstein Properties held a 99 year lease, but did not own the WTC.
The insurance policies were SHARED between Silverstein Properties and the NY Port Authority as co-insurers.
NO ONE CAN PROFIT from the insurance policies. To rebuidl the WTC, the co-insurers must present RECEIPTS or contracts for teh construction work. They do not get a lump sum. They must present documentation that the money is being spent for recosntruction the buildings.
SP can also get reimbursement for its lost rental income, but only what SP actually lost — nothing more.
SP owes the NYPA $100 million a year under the lease, and they SP has no income coming in from tenants because the buildings are destroyed.
Maybe the public outcry would be too great to insist on it, or maybe they are content for the time being to ride on the lease and proof of actual cost provisions . . . ?