Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for Saint Vincents Catholic Medical Centers of New York > News item |
Saint Vincents' $9.65 million settlement with trust, insurers OK'd
By Lisa Kerner
Charlotte, N.C., May 19 - Saint Vincents Catholic Medical Centers of New York settlement agreement with its medical malpractice trust SVCMC MedMal-MW Trust and its insurers received court approval on Thursday, according to an attorney familiar with the case.
As previously reported, the insurers include London Insurance & Reinsurance Market Association; Lexington Insurance Co.; Catlin Syndicate Ltd. (formerly Catlin Westgen Ltd.); Union America Insurance Co.; American Continental Insurance Co.; Limit (No. 3) Ltd.; Cx Reinsurance Co. (formerly CNA RE); and Zurich Reinsurance London Ltd.
Under the settlement, Med Mal will pay a total judgment related to a 2001 malpractice action of $9.65 million.
The insurers will reimburse Med Mal for $5.65 million of the amount, making Med Mal responsible for payment of $4 million.
Saint Vincents, a New York-based health care system, filed for bankruptcy on April 14, 2010. Its Chapter 11 case number is 10-11963.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.