Boy Scouts Secure $800 Million To Pay Sex Abuse Settlements

Chubb Ltd unit Century Indemnity Company, which serves as one of the Boy Scouts of America's primary insurers, plans to contribute $800 million toward a settlement regarding sexual abuse claims made against the youth organization, NBC News reports.

The payment is in connection to about 82,500 claims made by individuals who said they were sexually abused by troop leaders while participating in the Boy Scouts as children over the years.

In total, the Boy Scouts of America now reportedly put together a pot of funds designated to paying off resolve claims exceeding $2.7 billion amid its ongoing bankruptcy proceeding.

Individuals who filed claims will receive settlements based on the severity of their cases and when the incidents were said to have taken place in adherence with the organization's proposal.

Century's confirmed contribution to the large settlement pot comes after more than a year after butting heads with the Boy Scouts over the payments, which included the insurer questioning the legitimacy of claims made by individuals who were part of the organization against past troop leaders.

The settlement has received various responses from claimants as one group representing tens of thousands of victims has publicly supported the settlement, while another committee has deemed it as quick exit from Chapter 11 bankruptcy that compromises too much.

“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 Boy Scouts said in a statement obtained by NBC News on Monday (December 13).

The deal -- which has also received financial pledges from other primary Boy Scout insurers the Hartford Financial Group and the Church of Jesus Christ of Latter-day Saints -- still needs to be approved by a court as of Tuesday (December 14) morning.