About Chubb
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline.
Chubb Reaches Sexual Abuse Settlement with Boy Scouts of America for $800 Million
As reported by the Boy Scouts of America (BSA) and other parties today, an agreement-in-principle has been reached in the BSA bankruptcy. Under this agreement, assuming approval, Century Indemnity Company and other Chubb companies will pay $800 million and obtain a broad release for all Chubb companies from BSA-related abuse claims. The net financial impact to the company from the settlement will be substantially reduced by carried reserves and third-party reinsurance. This agreement-in-principle is contingent on a variety of conditions and court approvals.
Source: Chubb | Published on December 14, 2021
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