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Hartford Financial to pay $787 million in Boy Scouts sex abuse insurance settlements

(Reuters) - Insurance company Hartford Financial Services Group (NYSE:HIG) Inc said on Tuesday it has entered into a new agreement-in-principle with the Boy Scouts of America...
Hartford Financial to pay $787 million in Boy Scouts sex abuse insurance settlements © Reuters. FILE PHOTO: The Cushman Watt Scout Center, headquarters of the Boy Scouts of America for the Los Angeles Area Council, is pictured in Los Angeles, California October 18, 2012. REUTERS/Fred Prouser

(Reuters) - Insurance company Hartford Financial Services Group (NYSE:HIG) Inc said on Tuesday it has entered into a new agreement-in-principle with the Boy Scouts of America (BSA) and a majority of sexual abuse claimants to pay $787 million, before tax, in settlements.

In exchange for Hartford Financial's payment, the BSA and its local councils will fully release the company from any obligation under policies that were mostly issued in the 1970s, the insurer said.

The agreement replaces the Boy Scouts’ prior agreement with Hartford, under which the insurer said it would contribute $650 million.

Last month, a Delaware bankruptcy judge approved the Boy Scouts’ $850 million settlement with representatives of around 70,000 abuse claimants. The organization has not yet announced any deal with its other major insurer, Century Indemnity Co.

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22-09-2021 09:26:04 (UTC+7)

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 EUR/USD1.1728Neutral
 GBP/USD1.3664↑ Buy
 USD/JPY109.37↑ Sell
 AUD/USD0.7247↑ Sell
 USD/CAD1.2796↑ Buy
 EUR/JPY128.25↑ Sell
 EUR/CHF1.0833↑ Sell
 Gold1,777.85↑ Buy
 Silver22.707Sell
 Copper4.2135Neutral
 Crude Oil WTI71.08Neutral
 Brent Oil74.84↑ Sell
 Natural Gas4.831↑ Buy
 US Coffee C183.70↑ Buy
 Euro Stoxx 504,097.51↑ Buy
 S&P 5004,354.18↑ Sell
 DAX15,348.53↑ Buy
 FTSE 1006,980.98↑ Buy
 Hang Seng24,221.54Neutral
 Small Cap 20002,190.36↑ Sell
 IBEX 358,756.00Neutral
 BASF62.280↑ Sell
 Bayer45.70↑ Buy
 Allianz187.45↑ Buy
 Adidas281.90↑ Sell
 Lufthansa8.377↑ Sell
 Siemens AG145.32↑ Sell
 Deutsche Bank AG10.095Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,660/ 5,710
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Cập nhật lúc 09:24:41 22/09/2021
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