The University of California Board of Regents reached a settlement Sept. 8 after a two-year dispute with a management consulting firm that helped develop UC Student Health Insurance Plan.

The University filed the lawsuit in October 2013, claiming the firm Aon Hewitt provided negligent service that cost the UC more than $57 million.

Aon Hewitt set premium rates for the University’s student heath insurance plans that intended to create effective and efficient packages, according to the lawsuit.

In October 2013, UC officials said they believed Aon Hewitt set the rates too low to adequately cover the University’s costs, causing the University to run a multimillion dollar deficit and increase students’ premium fees.

Both a UC Office of the President spokeswoman and an Aon Hewitt spokesman declined to comment on the trial or elaborate on the details of the settlement, but confirmed a settlement was reached.

Compiled by Eliza Blackorby, Bruin reporter.