ProAssurance Settles Fla. Case for $217M
Medical liability insurance provider ProAssurance Corp. said Monday it settled a malpractice verdict against one of its subsidiaries for $217 million.
A jury in Tampa awarded $117 million to the plaintiff in a malpractice case, and added another $100 million in punitive damages against ProNational Insurance Co., one of ProAssurance (nyse: PRA – news – people )’s subsidiaries, on Sept. 29, 2006. The verdict was rendered in October 2006.
The confidential settlement will end all litigation and appeals stemming from the case, and is subject to final court approval, ProAssurance said.