Coventry First L.L.C. says it has settled a civil lawsuit that was filed in October 2006 by the New York state attorney general.
The attorney general had charged that Coventry, Fort Washington, Pa., had underpaid some policy owners in the state when it bought their policies through the life settlement market.
Under the agreement with the current New York Attorney General Andrew Cuomo, Coventry will pay an additional $1,447,285 to the policyholders. Coventry also has agreed to pay $10,552,715 to New York state to end the litigation.
Coventry was not assessed any fine or penalty under the settlement.