January 1, Boy Scouts of America Settles 82,000 Sexual Abuse Claims

Chubb Ltd.’s Century Indemnity Company, an insurer representing the Boy Scouts of America, says it will contribute $800 million to settle more than 82,000 sexual abuse claims.

“Century Indemnity Company and other Chubb companies will pay $800 million and obtain a broad release for all Chubb companies from BSA-related abuse claims,” the company said in a statement.

The tens of thousands of claimants who say they were abused as Scout members have until December 28 to vote on the Boy Scouts bankruptcy reorganization plan under an order issued in August by a judge in Delaware.

The judge’s decision was initially opposed by insurers, attorneys for some of the victims and church denominations that have sponsored local troops.

According to the Associated Press, the contribution would bring the amount of money in a proposed trust to more than $2.6 billion, making it the largest sexual abuse settlement in U.S. history.

The settlement would release the Boy Scouts and its 250 local councils from further liability for sexual abuse claims.

“This is an extremely important step forward in the BSA’s efforts to equitably compensate survivors, and our hope is that this will lead to further settlement agreements from other parties,” the BSA said in a statement.

Source:

Chubb Reaches Agreement-in-Principle with Boy Scouts of America