The insurer Lloyd’s of London is suing Saudi Arabia for $215 million over payouts that were made due to claims regarding September 11th . The insurer says that the defendants “knowingly” provided materials and resources to al Qaida in the years before September 11, 2001.
Lloyd’s of London is known for providing insurance for some unusual circumstances and situations. In other words, they are the most famous company that provides unique speciality insurance. Last year, they insured Santa Claus, with a policy that lasted until the end of December 25, 2010. They were in the news recently in regards to the “This is It” tour, and are currently being sued by Michael Jackson’s estate for not paying out on the policy that was taken out on that tour shortly before Michael Jackson died.
Earlier this month, Lloyd’s of London filed a federal lawsuit against Saudi Arabia, many Saudi charities, some Saudi financial organizations, and many prominent Saudi individuals. Lloyd’s of London believes that these defendants are primarily responsible for the attacks that happened on September 11, 2001, and therefore, should be responsible for paying the $215 million that the insurer paid out in related claims.
The lawsuit was filed at the United States District Court for the Western District of Pennsylvania on September 8, 2011. The complaint has 154 pages. Some defendants that are named in the complaint include: the Kingdom of Saudi Arabia, The Saudi High Commission for Relief of Bosnia & Herzegovina, Saudi Joint Relief Committee for Kosovo and Chechnya, Saudi Red Crescent Society, National Commercial Bank and Al Rajhi Banking and Investment company.
Other defendants include three Saudi citizens who are connected to at least one of the above organizations. These people are: Prince Salman Bin Abdul Aziz Al Saud, Suleiman Abdel Aziz Al Saud, and Yassin Al Qadi.
Lloyd’s of London has made 3,500 payments of claims that are related to September 11, 2001. The total amount of money the insurer paid out was $215 million dollars. The claims came from airlines, airport authorities, security companies, airplane manufacturers and others. The insurer also paid settlements for individuals who became injured due to the attacks that took place, and to the families of individuals who were killed. There were other claims paid out to businesses that suffered an economic loss as a result of the events on that day.
Overall, the insurer says that the defendants “knowingly” provided support to al Qaida in the form or materials and resources, in the years leading up to September 11, 2001. In short, the insurer feels that the events that took place on that day could not have happened without the sponsorship that was given to al Qaida by the defendants.
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