ProAssurance has settled a record $217 million verdict in a Florida case, according to reports earlier this week by the Houston Chronicle.

The actual amount of the settlement was undisclosed, but company shares were up more than 2% following the announcement which indicated market concerns were relieved by the settlement at whatever price. In the unlikely event that the full value of the jury award were to be paid out, some indicated that the loss would slash the insurer's equity value by 25%.

This brings an end to the chaotic series of legal actions surrounding the verdict, including the bankruptcy of two defendant medical provider groups, an attempt by ProAssurance to invalidate insurance coverage for the loss, and malpractice suits by the losing defendants against their defense attorneys for not having settled the case.