Boy Scouts Insurers Need to Release $211 Million, Trustee Says

Units of Chubb Ltd. and other insurance companies that set aside money for the Boy Scouts of America sex abuse settlement have refused to take steps to release $211 million worth of escrowed funds, a trustee said.

The funds at issue come from interest that accrued on $1.466 billion in settlement money that the insurance companies escrowed four years ago while waiting out appeals lodged against the Boy Scouts bankruptcy plan. Although the principal settlement amount was released earlier this year, Chubb and others haven’t consented to release the accumulated interest until they know how much will be owed for ...