Xcel To Collect $25M In Settlement With Insurers

Law360, New York (July 7, 2010, 7:14 PM EDT) -- Xcel Energy Inc. will receive $25 million as part of a deal reached with two insurers that puts to rest the electricity and natural gas company’s claims in state court stemming from its discontinued corporate-owned life insurance program.

Minneapolis-based Xcel, along with units Public Service Co. of Colorado and PSR Investments Inc., entered into a full and final settlement agreement with Provident Life & Accident Insurance Co. and Reassure America Life Insurance Co. to end Xcel’s case brought in 2007 in the Boulder County District Court...
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