Universal Health Settles Katrina Insurance Suit

Law360, New York (August 28, 2006, 12:00 AM EDT) -- Marking the latest major insurance settlement in the aftermath of Hurricane Katrina, Universal Health Services Inc. reached an agreement last Friday with Federal Insurance Co. and put to rest all claims related to damages from the disaster.

No details about the settlement were immediately provided, but the hospital chain—which previously operated three facilities in the New Orleans market—said that including amounts collected from other insurance policies, it has now received $264 million from hurricane-related claims, representing approximately 95% of its insurance policy limits.

Pennsylvania-based Universal Health...
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