By Maria Chutchian

(Reuters) – Chubb (NYSE.) Ltd unit Century Indemnity Company announced Monday that it would contribute $800,000,000 to a deal offered by Boy Scouts of America to resolve around 82,500 claims by people who claim they were sexually abused by their troop leaders as children.

The total amount available for claims resolution now exceeds $2.7 Billion. The Boy Scouts proposal is that those who have filed claims against the organisation in bankruptcy will get settlements based on the extent of their case and when they were alleged to have been abused.

After more than one year of back and forth between Century and the Boy Scouts, Century has made its contribution. Century raised questions about the legitimacy of some claims in bankruptcy proceedings.

An organization representing thousands of claimants has supported the settlement. The deal was opposed by a committee that represents the claimants. It said the agreement is too restrictive and would allow for Chapter 11 to be restructured quickly. The lawyers for the committee didn’t immediately reply to my request for comment.

The Boy Scouts stated that Monday’s statement was an important milestone in their efforts to compensate survivors fairly. They also hoped for further settlement agreements with other parties.

The agreement is still subject to approval by the Boy Scouts. It is also backed, in part, by The Hartford Financial (NYSE 🙂 Group and The Church of Jesus Christ of Latter-day Saints. These organizations previously chartered Scouting activities and groups.

The Boy Scouts applied for bankruptcy in February 2020 to settle hundreds of cases involving allegations of sexual abuse that they faced over many decades. The proposed plan for reorganization rests upon the settlement. Abuse victims have until December 28th to cast their votes.