In addition to the Boy Scouts agreement, The Hartford also released estimated losses stemming from the settlement and the winter storm in Texas. (Credit: Amy Kerkemeyer/Shutterstock.com)
The Hartford and Boy Scouts of America (BSA) have entered into a settlement agreement that will see the former pay $650 million, before tax, for sexual abuse claims associated with policies predominately written in the 1970s, the Connecticut-based insurer reported.
In exchange for the payment, The Hartford will be freed from future obligations under policies issued to BSA as well as its local councils. The youth organization faces more than 92,000 allegations of abuse.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
