KINGSTON, Tenn. (AP) — The Tennessee Valley Authority says it will receive another $150 million from an insurance company to help pay for the ongoing cleanup of the 2008 coal ash spill in Kingston, Tenn.
ACE Bermuda Insurance Ltd., a property and casualty insurance company, will pay TVA for a portion of the damages to nearly 300 acres of property caused when a dike ruptured and spilled coal ash into the river and nearby land. The insurance settlement is believed to be the biggest insurance payment ever to TVA.
The settlement comes on the eve of the fifth anniversary of the spill.
More than 1.1 billion gallons of coal fly ash slurry spilled into the Emory River and its Swan Pond embayment when a dike ruptured.