Boy Scouts, Chubb Strike $800 Million Victim Payment Deal (1)

The Boy Scouts of America reached an agreement in principle with insurer Chubb Ltd. to pay $800 million in insurance proceeds to settle with more than 80,000 former scouts who filed sexual abuse claims, increasing the size of a proposed Chapter 11 victims’ fund.

The pool of funds to compensate victims is now expected to exceed $2.7 billion over the coming weeks with additional insurance proceeds and contributions, the Boy Scouts said in a statement Monday. “This will be the largest sexual abuse compensation fund in the history of the United States,” it said.

Century Indemnity Co., a Chubb affiliate, ...