Allianz in Mediation with WTC Developer Silverstein

I hope this insurance company is waking up from the scam we can only pray. We should e-mail them and try to wake them up on at least building 7

Allianz in Mediation with WTC Developer Silverstein
NEW YORK (Reuters) - Allianz (ALVG.DE: Quote, Profile , Research) said mediators would seek to determine how much it owes the developer of the World Trade Center, while he led a demonstration against Europe's biggest insurer for withholding funds.

"We're going to make you pay!" Larry Silverstein shouted in front of a crowd of about 200 cheering construction workers at a noon rally in midtown Manhattan on Monday.

Silverstein, who leased the downtown site destroyed on Sept. 11, 2001, claims Allianz still owes him $553 million and that a second insurer, Britain's Royal & Sun Alliance (RSA.L: Quote, Profile , Research), owes him $250 million. He said their reluctance had slowed rebuilding at the site.

"You can count on some insurance companies to look for every way they can think of to avoid paying up," said Silverstein, making common cause with Gulf Coast homeowners who are suing for claims from Hurricane Katrina in 2005.

Allianz spokeswoman Sabia Schwarzer said a mediation process between Silverstein and the German insurer began on Monday. She said she had no further details.

Royal & Sun spokesman Kader Bryan said his company would "continue to pay our obligations as they come due" and that Royal & Sun currently did not owe Silverstein and the Port Authority any money.

A spokesman for Silverstein declined to comment on the mediation talks.

Brooklyn-Queens Democratic Congressman Anthony Weiner vowed to punish the insurers with fines or operating restrictions if they did not pay up.It is time for them to be held accountable," said Anthony Shorris, executive director of the Port Authority of New York and New Jersey, the owner of the World Trade Center site.

The Allianz spokeswoman said the insurer had already paid almost $2 billion in claims from the World Trade Center disaster, settling with all its policyholders except for Silverstein and the Port Authority.

Schwarzer said Allianz has paid Silverstein and the Port Authority almost $550 million and that the developer had more than enough money in the bank to begin construction at the lower Manhattan site.

Royal & Sun recently spun off its U.S. operations to Arrowpoint Capital, a unit run by its U.S. management. Silverstein and the Port Authority have sued, claiming Arrowpoint will not have enough capital to meet their claims.

The Delaware insurance commissioner approved the sale on Feb. 20 over their objections, however, saying Arrowpoint would have enough money to meet its obligations.

we're going to make you pay!

You tell em Larry, champion of the working class!!


Real Truther a.k.a. Verdadero Verdadero - Harvard Task Force


The insurance companys might

The insurance companys might be interested in who told the news agencys the building had collapsed.

Larry Larry

Has anyone played the "Pull it" clips for the insurance companies? I think they might be a tad interested in that.

After he's done "making them pay" I suggest we make Larry and Co. "pay" for what they've done.

Physics/Science/Mathematics do not lie, only people do.
9/11 was an INSIDE JOB

You can contact Allianz Property & Casualty Insurance


I wonder what they would think of arie's new WTC7 video... :-)

I bet their investors would want to know also... especially as... "the insurer had already paid almost $2 billion in claims from the World Trade Center disaster"

Nice blog "get it right"

Best wishes

Send in messages? Can't hurt.

I went ahead and submitted a comment at their website.They have a special page for that.

Who knows who (or what, for that matter...) will read these comments at their public website. I think Allianz is basically looking for customers by this means. The confirmation page said someone would send me an email message, answering my question.

Thanks, 911veritas, for looking up the website page. Good post 'get it right.'

Here is what I wrote. Note that, as usual, my style is very soft. Others will prefer a more confrontation style, and I do not dispute that; it might work better sometimes than what I do. If others send stuff in, maybe you will want to include more specifics than I did? You choose.

Again, here is what I sumitted to them at the above website:

"Please investigate how the World Trade Center buildings came down -- look at each of the three -- before paying more to Mr. Silverstein. A quick search of the web will yield much to look at. You will be able to winnow the truth from speculation, if you look. Basically, this was, in my opinion, a $7 billion insurance fraud. Please check it out."

Phone calls are more effective

Send E mail or even call them if you got the balls i am thursday i got the day off

Companies of the Allianz Group in United States of America

Allianz Global Corporate & Specialty North America

225 W. Washington Street, Chicago, IL 60606-3484
Phone:+1 312 224 3312
Internet:> Allianz Global Investors Distributors LLC

2187 Atlantic Street, Stamford, CT 06902, USA
Phone:+1 203 352 4900
Fax: +1 203 352 1283
Internet:> Allianz Global Investors of America L.P.

680 Newport Center Drive, Suite 250, Newport Beach, CA 92660
Phone:+1 949 219 2200
Fax: +1 949 219 3949
Internet:> Allianz Hedge Fund Partners

Four Embarcadero Center, 32nd Floor, San Francisco, CA 94111-4189, USA
Phone:+1 415 954 53-43
Fax: +1 415 954 53-93
Internet:> Allianz Life Insurance Company of North America

P.O. Box 1344, Minneapolis, MN 55416-1297
Phone:+1 800 950-5872
Internet:> Allianz Private Equity Partners, Inc.

1345 Avenue of the Americas, 47th floor , New York, NY 10105-4800, USA
Phone:+1 (212) 739 3400
Fax: +1 (212) 739 4400
Internet:> Allianz Risk Transfer, Inc.

350 Park Avenue, New York, NY 10022
Phone:+1 212 754-6100
Fax: +1 212 754-2330
Internet:> Euler Hermes ACI

800 Red Brook Boulevard, Owings Mills, MD 21117
Phone:+1 410 753-0753
Fax: +1 410 753-0952
Internet:> Fireman's Fund AgriBusiness

10895 Lowell Avenue, Overland Park, KS 66210, USA
Phone:+1 913 338-7800
Fax: +1 913 338-7888
Internet:> Fireman's Fund Insurance Company

777 San Marin Drive, Novato CA 94998 - USA
Phone:+1 415 899-2000
Internet:> Fireman's Fund McGee Underwriters

75 Wall Street, New York, NY 10005
Phone:+1 212 524-8600
Fax: +1 212 524-9446
Internet:> Interstate Insurance Group

55 East Monroe Street, Suite 3300, Chicago, IL 60603
Phone:+1 312 346-6400
Internet:> NFJ Investment Group

2100 Ross Avenue, Suite 1840, Dallas, Texas 75201, U.S.A.
Phone:+1 214 754-1780
Fax: +1 214 754-1798
Internet:> Nicholas-Applegate Capital Management

600 W. Broadway, San Diego, CA 92101
Phone:+1 619-687-2968
Fax: +1 619-744-5701
Internet:> Oppenheimer Capital

1345 Avenue of the Americas, New York, New York 10105-4800
Phone:+1 800 207-6909
Internet:> PEA Capital LLC

1345 Avenue of the Americas, 50th Floor, New York, NY 10105-4800
Phone:+1 212 739 3800
Fax: +1 212 739 3954
Internet:> PIMCO

840 Newport Center Drive, Suite 300, Newport Beach, CA 92660, USA
Phone:+1 949-720-6000
Fax: +1 949-720-1376
Internet:> RCM Capital Management LLC

4 Embarcadero Center, San Francisco, CA 94111-4189, USA
Phone:+1 415 954 5400
Fax: +1 415 954 8200
Internet:> © Allianz 2006. All Rights Reserved. >Credits >Privacy Principles >Terms Of Use

contact investor relations

It's one of the links on the contact page. ask them if they plan to reduce dividends as a result of their having to bail out an arsonist...


Real Truther a.k.a. Verdadero Verdadero - Harvard Task Force


more on Allianz, one of the WTC insurers

Hmmm... So Allianz had some kind of Fireman's coverage before 9/11?  Interesting.  Also note their stock price since 2001: 

 Oh yeah, check out the part in bold... 

Eight weeks after the terrorist attacks in the USA, insurers are still working hard at assessing and settling their customers’ claims. Andreas Shell, head of industrial claims at Allianz AG, found out how things were going on the ground. An interview.
Allianz Group
Munich/New York, Nov 5, 2001
 Illustratives Bild

Andreas Shell News: What was it like coming to New York after September 11?
Shell: It was dreadful. New York is like a second home to me, some of my family lived here. When I stood in front of the destroyed towers for the first time, tears ran down my face. The only way of coming to terms with the situation was to throw myself into work. There was certainly more than enough to do.
? What does work at Allianz look like in New York?
Shell: Our American subsidiaries – the most important are Fireman's Fund, Allianz Insurance Company and Allianz Life – immediately started to scan their customer files for anyone affected. The problem was that a large number of documents were located in a building directly opposite the World Trade Center – we could only secure them in a truck at the end of September.
? How quickly will you be able to pay out?
Shell: We have already started, but in some cases the procedure will take some time. There’s a certain conflict between one’s personal distress and the need to protect the interests of one’s company and its shareholders. We can only make advance payments for claims that are clearly verifiable or absolutely obvious. And at the moment it’s not even possible to say how many claims will have to be paid out worldwide on insurance policies for business interruption, because companies have been directly or indirectly affected. It’s not even possible to estimate consequential and collateral damage.
? Has it been possible to pay out on any life insurances yet?
Shell: In many cases, yes. But a large number of people have not yet been positively identified and missing persons have not yet been confirmed. We have developed plausibility criteria for these scenarios and are carrying out some detective work to ascertain whether the missing people were in the World Trade Center at the time, for example on the basis of diary entries and statements by business partners. This is, unfortunately, necessary. There is always somebody who will attempt to exploit a tragedy like this.
? Do you as an insurer believe that you are able to help people?
Shell: Claims regulators are always in a state of emergency, but this time we found it really difficult to keep a cool head and act professionally, while those affected are often still in a state of paralysis. Of course, we only come into play when the damage has already occurred. In the case of such a terrible event like this, we cannot console people. We can only help them to get their lives under control.

If you want to quote this article, please cite News as the source.


Real Truther a.k.a. Verdadero Verdadero - Harvard Task Force

Note ties

Beijing is selling off ownership stakes in its state-owned companies. The goal isn’t capital; it’s transparency.

Foreign companies are in the midst of an extraordinary shopping spree in China. In October 2005, Carlyle Group became the first direct buyer of a Chinese state-owned enterprise (SOE), with its $375 million bid for an 85 percent stake in Xugong Group Construction, the country’s largest construction machinery manufacturer and distributor. That deal was quickly followed by a handful of other high-profile foreign bids for Chinese SOEs, including the January 2006 announcement that Goldman Sachs, Allianz Group of Germany, and American Express would pay $3.8 billion for a minority stake in Industrial and Commercial Bank of China, the country’s largest government-owned bank