Oxford Health Settles Insurance Claims

Oxford Health Plans Inc. has been in a dispute with its excess insurance carriers over their contribution to the company’s March 2003 settlement of a securities class action for $225 million.

According to an article on the Dow Jones Newswires (suscrip. required), the company has agreed in principle to settle $17.9 million of its claims against the insurers for a total of about $14.3 million, which will be reflected in its third-quarter earnings. An additional claim for $23.9 million against one insurance carrier is still outstanding.

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