FOR IMMEDIATE RELEASE
April 12, 2004
STATEMENT FROM MAYOR MICHAEL R. BLOOMBERG ON FEDERAL EMERGENCY MANAGEMENT ADMINISTRATION’S (FEMA) DECISION TO ALLOW CAPTIVE INSURANCE COMPANY TO COVER ALL DEBRIS REMOVAL CASES
“I am pleased that FEMA will now allow all claims arising from debris removal from the World Trade Center site to be eligible for coverage under the $1 billion captive insurance company, saving the City up to $350 million. This is the result of months of negotiations between FEMA, the City and State, and also the contractors who worked at the site to provide an insurance structure to address claims arising from the removal of debris. Today's decision will allow the remaining details to be resolved quickly so the insurance company may then process all debris removal claims without the City incurring any additional liability.
“I would like to thank Department of Homeland Security Undersecretary Mike Brown and his staff, as well as the New York delegation including Senators Hillary Clinton and Charles Schumer, Congressmen James Walsh, John Sweeney and Tom Reynolds for working towards a constructive resolution to a difficult issue. President Bush has been there for us since September 11 and this is another example of his continuing support for New York City.”
Edward Skyler/Robert Lawson (212) 788-2958