Insurers Pay Tenet $340 mln for Hurricane Claims

Published on:
12 September 2006 at 10:21 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00018661-insurers-pay-tenet-340-mln-for-hurricane-/

Tenet Healthcare Corp. might get some of that $900 million it was fined by the Federal Government for bilking Medicare patients. In a twist of delicious irony, the company said its property insurers paid the company $340 million to settle claims after half a dozen of its hospitals sustained business interruption caused by Hurricane Katrina. Reuters is covering the story.

Tenet, the second-biggest hospital company and the chain most devastated by the hurricane, said the deal is one of the first big commercial property insurance settlements on damage from the storm, which battered the Gulf Coast region in August 2005. Tenet said it received all of the money as of Thursday.

You can read the full story at Insurers pay Tenet $340 mln for hurricane claims.