A major international accounting firm paid $17 million as part of a settlement to the receiver for an insolvent health maintenance organization, or HMO.

John Genovese, a partner at Genovese, Joblove & Battista in Miami, led a team that scored a settlement in an ongoing receivership case involving a failed health care maintenance organization, Physicians United Plan. Genovese and his team worked on behalf of the Florida Department of Financial Services as receiver for the failed HMO that at one time reported revenues of $375 million.

The case is a reminder for insureds and firms involved in transactions with insurance companies to be cautious about their solvency.