ZURICH (Dow Jones) – Switzerland-based insurer Zurich Financial Services AG (ZURN.VX) said Tuesday that it has reached a settlement regarding the bankruptcy of a U.S. nursing home chain Senior Living Properties.
Under the agreement, Zurich will pay $47.5 million. The company said its reserves will fully cover the payment.
The settlement puts an end to a lawsuit filed by Senior Living Properties which sought damages of around $528 million from Zurich company units.
LATEST NEWS & RESULTS
Brent Moss Joins Others in Arkansas Opioid Lawsuit (2017)
Brent Moss Joins Others in Arkansas Opioid Lawsuit (2017) In 2017, a group of Arkansas cities and towns sued major opioid manufacturers...
Kentucky Fights Nursing Home Staffing Rule
Kentucky Fights Nursing Home Staffing Rule In a move that prioritizes industry interests over resident safety, Kentucky is challenging a new federal...
Colorado Nursing Home Abuse: $3.3 Million Awarded
Colorado Nursing Home Abuse: $3.3 Million Award A Colorado jury delivered a resounding message to negligent nursing homes in 2014: resident care...