[StBernard] Universal Health Services settles Katrina claims
westley at da-parish.com
Sat Sep 9 10:48:25 EDT 2006
NEW YORK, Aug 25 (Reuters) - Hospital chain Universal Health Services Inc
(UHS.N: Quote, Profile, Research) on Friday said it has reached an agreement
with U.S. Federal Insurance Company to settle all claims related to damage
of its facilities from Hurricane Katrina.
The company, which operated three facilities in the New Orleans market, did
not provide details about the settlement in its statement.
Including payments from other insurance policies, Universal Health Services
said it has now received $264 million from hurricane-related claims, or
about 95 percent of its insurance policy limits.
The company said $128 million of insurance proceeds have already been
collected and recorded in previous quarters, and that another $136 million
will be recorded in the third quarter.
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