Sava Settles With Zurich In Dispute Over $25M D&O Policies

By Jeff Sistrunk (May 4, 2015, 7:44 PM EDT) -- SavaSeniorCare LLC has settled its claims against Zurich American Insurance Co. in a suit alleging Zurich and another insurer reneged on policies worth $25 million when they refused to cover an underlying action accusing two former Sava officials of misconduct in a failed billion-dollar nursing home deal.

Sava and Zurich filed a stipulation on Monday in Georgia federal court providing that the nursing home operator would dismiss its claims against the insurer with prejudice. Terms of the parties' agreement were not disclosed in court filings and attorneys for both sides did not immediately respond to requests for comment.

Excess insurer Beazley...

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