The Boy Scouts said a proposed settlement trust to compensate survivors of sexual abuse is now expected to exceed $2.6 billion
The Boy Scouts of America reached an $800 million settlement with Chubb Ltd. ’s Century Indemnity Co. over childhood sexual abuse within the youth group, potentially boosting the funds available for abuse victims under its chapter 11 plan.
The proposed deal caps Chubb’s exposure under insurance policies it sold the Boy Scouts and is supported by a coalition of law firms representing the bulk of the roughly 82,200 men who filed claims in the youth group’s bankruptcy over past abuse.
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Insurer agrees to $800M settlement in Boy Scouts bankruptcyAttorneys in the Boy Scouts of America bankruptcy case have reached a tentative settlement under which one of the organization’s largest insurers would contribute $800 million into a fund for victims of child sexual abuse. The agreement announced Monday calls for Century Indemnity Co. and affiliated companies to contribute $800 million into the fund in return for being released from further liability for abuse claims. The payment would bring the amount of money in the proposed trust to more than $2.6 billion, which would be the largest sexual abuse settlement in U.S. history. The settlement comes as more than 82,000 sexual abuse claimants face a Dec. 28 deadline to vote on a previously announced Boy Scouts reorganization plan.
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Insurer agrees to $800M settlement in Boy Scouts bankruptcy | AP NewsDOVER, Del. (AP) — Attorneys in the Boy Scouts of America bankruptcy case have reached a tentative settlement under which one of the organization’s largest insurers would contribute $800 million into a fund for victims of child sexual abuse.
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Insurer agrees to $800M settlement in Boy Scouts bankruptcyAttorneys in the Boy Scouts of America bankruptcy case have reached a tentative settlement under which one of the organization’s largest insurers would contribute $800 million into a fund for victims of child sexual abuse. The agreement announced Monday calls for Century Indemnity Co. and affiliated companies to contribute $800 million into the fund in return for being released from further liability for abuse claims. The payment would bring the amount of money in the proposed trust to more than $2.6 billion, which would be the largest sexual abuse settlement in U.S. history. The settlement comes as more than 82,000 sexual abuse claimants face a Dec. 28 deadline to vote on a previously announced Boy Scouts reorganization plan.
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