The 114-year-old organization says it's rebranding to Scouting America to be more inclusive. The move by the Boy Scouts after a wide-ranging child sex abuse scandal and bankruptcy.
Chubb Ltd.'s Century Indemnity Company said it would contribute to the fund to settle more than 82,000 claims as part of a bankruptcy reorganization ordered in August.
"This initial settlement of $850 million is the largest settlement of sexual abuse claims in United States history," Ken Rothweiler, who represents more than 16,000 men in the settlement said.
The organization ignored decades of sex abuse allegations, but it could now pay the price. More than 60,000 men say they were abused as scouts, ahead of Monday's deadline to file a claim.
