This settlement, according to Tenet, marks the “first major commercial property insurance settlements resulting from Hurricane Katrina damage.”
An amazing 24 carriers were involved in the settlement.
Tenet described the reach of the damage to their properties, “five of Tenet’s hospitals in the New Orleans area and one in Biloxi, Miss., as well as five diagnostic imaging services, outpatient radiology centers and other support property in New Orleans.”
It was disappointing to find out that Tenet is planning to sell most of its hospitals in the New Orleans market. I wonder if New Orleans will ever be close to what it was before the hurricanes?
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