DOVER, Del. — Insurance company The Hartford has agreed to pay $650 million into a proposed trust fund for victims of child sexual abuse as part of the Boy Scouts of America bankruptcy case.
According to the court filing, The Hartford’s payment will be reduced if, after the agreement is signed, the BSA or the settlement trust enters into an agreement with another insurer, Century Indemnity Company, and Century’s settlement amount is less than two times The Hartford’s settlement amount. “This is just business as usual for the Boy Scouts — paying lip service to their supposed understanding and concern for their horrific legacy of sex abuse ... but not doing anything substantive,” Mones added.
The agreement with The Hartford was announced after the Boy Scouts filed a revised reorganization plan earlier this week after gaining little support for a previous proposal. Should abuse victims not approve the new plan, the BSA — which says it needs to exit bankruptcy by late summer — would turn to an alternative BSA-only plan. Under that plan, the settlement trust would be funded only by the BSA, and only for claims made against the national organization, not local councils.
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