U.S. District Judge George Daniels in Manhattan today said that Hezbollah, designated a terrorist group by the U.S. State Department, must pay the damages to insurers includingChubb Corp. (CB) that sought to recoup payments to business and property policyholders for losses from the attacks.

The insurers won default judgments in 2006 against al-Qaeda and Hezbollah after the groups didn’t contest the suit.

The case is Federal Insurance Co. v. Al Qaida, 03-CV-6978, U.S. District Court, Southern District of New York (Manhattan).




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