A lot of shadowy finance happened at the time. A little known insurance company called Chubb held the risk for the WTC buildings, Enron, and another huge blowout called WorldCom. The then-CEO (who was born into this position, his grandfather was a founder) put on his pin-stripiest suit and walked into the 9/11 Senate hearing and said that Chubb is bound by insurance regulations to investigate this loss, and lo-and-behold, the towers' collapse was deemed to be equivalent to an act of god, and that the loss would be paid by the government, and that no investigation would be done by insurance professionals. Two weeks later, he retired a decade early from the position he was born into, and the 9/11 commission was created to handle the "investigation." nothing to see here, keep walking folks...
WhyNoDonuts ago
A lot of shadowy finance happened at the time. A little known insurance company called Chubb held the risk for the WTC buildings, Enron, and another huge blowout called WorldCom. The then-CEO (who was born into this position, his grandfather was a founder) put on his pin-stripiest suit and walked into the 9/11 Senate hearing and said that Chubb is bound by insurance regulations to investigate this loss, and lo-and-behold, the towers' collapse was deemed to be equivalent to an act of god, and that the loss would be paid by the government, and that no investigation would be done by insurance professionals. Two weeks later, he retired a decade early from the position he was born into, and the 9/11 commission was created to handle the "investigation." nothing to see here, keep walking folks...