An insurance settlement dispute is delaying the rebuilding of a Roman Catholic school in Springfield, Mass., that was damaged by a tornado in June 2011.
The Republican of Springfield reports the Diocese of Springfield and its insurance company, Catholic Mutual Group, are $55 million apart in negotiations over the settlement amount involving Cathedral High School.
Consultants for the diocese estimate that it will cost about $70 million to build a new school, but the insurance company says the building can be repaired for $15 million.
The two sides are in an arbitration process that’s not expected to end until April, five months later than expected. The diocese is asking parents to remain committed to the school during the arbitration.
Students are now attending school at a temporary location in Wilbraham.
Topics Massachusetts
Was this article valuable?
Here are more articles you may enjoy.
A Little Behind Schedule, But Execs Say Sypher Insurance is on Track for May Debut 
New York Restaurateur Charged In No-Fault Auto Insurance Fraud Scheme 
Chubb: Cyber Claim Severity Nearly Doubled for Large Businesses 
More Insurance M&A Deals on the Horizon? 
