Tenet Healthcare has reached an agreement totaling $340 million with its various property insurers to settle the hospital group's physical damage and business interruption claims from Hurricane Katrina, the company said.
The settlement is one of the first major commercial property insurance settlements resulting from Hurricane Katrina damage, according to Tenet.
A company spokesman, Steven Campanini, said about 24 carriers were involved and their portions of the settlement varied depending on their limits and liabilities. He would not disclose their names.
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