Federal appeals court upholds WTC verdicts.(News)(World Trade Center )

Byline: RUPAL PAREKH

NEW YORK-A federal appeals court has upheld a jury verdict that the Sept. 11, 2001, terrorist attack on the World Trade Center was a single occurrence under the terms of the Willis Group Holdings P.L.C. policy form agreed to by the lead insurer, Swiss Reinsurance Co.

WTC leaseholder Silverstein Properties Inc. had argued that destruction of the Twin Towers was caused by two aircraft, each was a separate occurrence under its coverage and, therefore, it was entitled to two policy limits of $3.55 billion each.

In the first phase of the litigation in 2004, a jury found that nearly half of Silverstein's two dozen property insurers, …