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Armstrong reaches settlement with insurance company

Just one day prior to a scheduled deposition, Lance Armstrong has reached a settlement with an insurance company that sued the former Tour de France champion regarding bonuses paid out in 1999, 2000 and 2001 for his now-disqualified victories.

Acceptance Insurance Holdings sought to recover US$3 million in bonus money, but Armstrong's attorney Tim Herman told USA Today that the case was "resolved to the mutual satisfaction of the parties."

Having reached a settlement, Armstrong has avoided providing testimony under oath regarding his doping practices as part of the US Postal Service team.

Armstrong's attorneys tried unsuccessfully earlier this year to have Acceptance Insurance Holdings' suit against the Texan thrown out on grounds that the statute of limitations expired in 2011, but a Travis County, Texas judge ruled sided with the insurance company's claim that the statute of limitations only started when Armstrong publicly admitted to doping in January of 2013.

Armstrong is still the subject of multiple lawsuits, including a federal whistleblower lawsuit filed by US Postal Service teammate Floyd Landis.

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