Mallory Beach, 19, was killed when the ship struck a bridge structure, and her family will receive $15 million (£11.4 million) as a result of the arrangement.
Murdaugh, a convicted killer and former lawyer, owned the boat.
Officials think his son Paul, who had been drinking, was operating it when the crash occurred in February 2019.
The defendants in the wrongful death action included Alex Murdaugh and the convenience store that provided Paul the alcohol.
On Sunday, attorneys reported that all cases relating to the collision had been resolved.
Four additional adolescent boat passengers, Anthony Cook, Morgan Doughty, Miley Altman, and Connor Cook, will each receive $3 million in addition.
Alex Murdaugh was found guilty by a jury earlier this year of killing his wife Margaret and Paul, then 22 years old, in June 2021. The US was riveted by the South Carolina trial involving the renowned legal dynasty.
Murdaugh allegedly killed them to garner sympathy and draw attention away from his financial crimes. He received a life in prison sentence.
Paul Murdaugh was facing three criminal charges, including drunken boating that resulted in death, at the time of his death. He entered a not guilty plea, but before he could get to court, his father shot and killed him.
Paul was the only survivor to deny that he had been driving when the collision occurred. His blood alcohol content was later discovered to be three times the legal limit during a blood test.
Paul is accused of using his older brother’s identification to purchase alcohol earlier in the day from a store run by Parker’s Corporation.
The Beach family hopes that this agreement will serve as a message to all Parkers who would consider selling alcohol to a youngster illegally, according to the family’s attorney.
In a statement, Parker’s said: “This represents the resolution of all the boat crash cases. We genuinely hope that everyone concerned can come to some sort of resolution.
According to the Beach family counsel, the crash victims will also receive a portion of Alex Murdaugh’s assets that are under the authority of the court, albeit the exact amount is still unknown.
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