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Terrorist atrocity leaves insurers facing record costs

In the wake of the havoc that was wreaked in the US yesterday the total bill to insurers is expected to top the $3bn (£2.05bn) paid out following the Piper Alpha oil platform disaster in 1988, which is currently the most expensive man-made incident for insurers to date.

The World Trade Centre towers alone cost $750m (£513.7m) to build in the early 1970s and insurers will be liable for the damage done to surrounding property including the 47-storey Salomon building

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