Boy Scouts Insurer Chubb to Pay $800 Million in Sex-Abuse Compensation Deal

The Boy Scouts of America, which filed bankruptcy last year over a growing wave of lawsuits from abuse survivors, has apologized. The Boy Scouts reached an $800 million settlement with Chubb Ltd.’s Century Indemnity Co. over childhood sexual abuse within the youth group. This settlement will potentially boost the funds available for abuse victims under its chapter 11 plan and preserve the organization’s mission. The proposed deal caps Chubb’s exposure under the 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 organization’s bankruptcy over past abuse.

If approved in bankruptcy court, the settlement would add to the nearly $1.9 billion in compensation already put together from the Boy Scouts’ own assets, affiliated local councils, the Church of Jesus Christ of Latter-Day Saints, and Hartford Financial Services Group, Inc, another insurer. The youth group is under intense pressure to win the backing of abuse survivors for its bankruptcy plan, which would lift the Boy Scouts out of court protection and resolve its financial liability related to decades of failures to protect children from predators.

Considering bankruptcy? Call us at 816-524-4949 or visit our website to schedule a consultation.

This entry was posted in General. Bookmark the permalink.

Leave a Reply