© Reuters. FILE PHOTO: The Cushman Watt Scout Middle, headquarters of the Boy Scouts of America for the Los Angeles Space Council, is pictured in Los Angeles, California October 18, 2012. REUTERS/Fred Prouser
By Maria Chutchian
(Reuters) -The Boy Scouts of America on Tuesday secured greater than $1 billion in new settlements to resolve intercourse abuse claims, with $787 million coming from insurance coverage group The Hartford and one other $250 million from the Church of Jesus Christ of Latter-day Saints, one in every of its chartered organizations.
The agreements, introduced by Hartford Monetary Providers Group (NYSE:) Inc and the Coalition of Abused Scouts for Justice, shall be topic to approval by U.S. Chapter Decide Laurie Selber Silverstein, who oversees the Boy Scouts’ chapter.
In alternate for The Hartford’s cost, the Boy Scouts and its native councils will totally launch the corporate from any obligation below insurance policies that have been principally issued within the Seventies, the insurer stated. The Hartford expects to take a $137 million pretax cost within the third quarter for the upper payout.
Tuesday’s settlement replaces the Boy Scouts’ prior take care of The Hartford, below which the insurer stated it will contribute $650 million to a proposed belief fund for victims of kid sexual abuse as a part of the Boy Scouts’ chapter case.
The Church of Jesus Christ of Latter-day Saints is one in every of many organizations that fund scouting actions and troops and which have additionally confronted intercourse abuse claims.
Based in 1910, the Boy Scouts filed for Chapter 11 chapter safety in February 2020 after being hit with a flood of sexual abuse lawsuits. The Boy Scouts face 82,500 claims of sexual abuse within the chapter.
Final month, Silverstein accepted the Boy Scouts’ $850 million settlement with representatives of round 70,000 abuse claimants. That deal is backed by 250 native councils.
With the 2 new settlements, the whole sum of money out there to intercourse abuse claimants within the Boy Scouts chapter is now $1.887 billion. Negotiations with different insurers and chartered organizations are ongoing.
The Boy Scouts have stated they’re dedicated to fulfilling their “social and ethical duty to equitably compensate survivors.”
Fusion Media or anybody concerned with Fusion Media is not going to settle for any legal responsibility for loss or injury on account of reliance on the data together with knowledge, quotes, charts and purchase/promote alerts contained inside this web site. Please be totally knowledgeable relating to the dangers and prices related to buying and selling the monetary markets, it is likely one of the riskiest funding kinds doable.
