Pearl River Community College in Hattiesburg, Mississippi, is moving forward on rebuilding facilities damaged by Hurricane Katrina after four years of “moving in quicksand.”
Officials settled with Zurich Insurance Co. in August over extensive storm damage incurred on its Poplarville campus and received payment six weeks ago.
For four years, the two sides had haggled over how much the school was owed. Zurich originally offered $15 million to PRCC, a figure far short of the school’s $40 million to $50 million in estimated damages.
President William Lewis said he was pleased with the settlement amount, which he could not disclose because of a confidentiality agreement.
The college will rebuild four key structures: M.R. White Coliseum, Moody Hall Auditorium, Lamar Hall and Marion Hall.
Topics Education Universities Mississippi
Was this article valuable?
Here are more articles you may enjoy.
Howden-Driven Talent War Has Cost Brown & Brown $23M in Revenue, CEO Says 
Florida Committees Approve MGA, Litigation Funding Restriction Bills 
Flood Risk Misconceptions Drive Underinsurance: Chubb 
Zurich Reveals Beazley Stake After UK Insurer Spurns Bid 
