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La. Parish Gets Another $17M In Hurricane-Related Insurance Proceeds

October 15, 2012
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From The New Orleans Times-Picayune: Lawyers for the Orleans Parish (La.)School Boardhave managed to get another $17 million worth of insurance proceeds from the damage done by Hurricane Katrina and its aftermath. District officials say the money is slated to go toward the more than $2 billion worth of school construction and renovation already underway. The new lump sum comes from a legal settlement with Westchester Surplus Lines Insurance, one of four insurance companies on a $200 million policy that covered damage to the school system's infrastructure. The district had already received about $72.5 million from the policy, and now has only one more insurance company to settle with, Interim Superintendent Stan Smith says.

Copyright: © 2012 Penton Media
Source: Penton Business Media
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