The Hartford Agrees to Settlement with the Boy Scouts of America and Pre-Announces Estimated First Quarter Prior Year Development and Catastrophe Losses
April 16, 2021 at 04:15 pm EDT
The Hartford Financial Services Group, Inc. announced that it has entered into a Settlement Agreement and Release with the national organization of the Boy Scouts of America (BSA) pursuant to which The Hartford will pay $650 million, before tax, for sexual abuse claims associated with policies mostly issued in the 1970s. The agreement, entered into after extensive negotiations, contemplates that, in exchange for The Hartford?s payment, the BSA and its local councils will fully release The Hartford from any obligation under policies it issued to the BSA and its local councils.