compensation fund News

Boy Scouts Victims’ Fund Unfair to Insurers, Companies Argue in Court

The Boy Scouts of America’s sexual abuse compensation fund may force insurers to make payments they can’t negotiate over, even if the claims are fraudulent, a group of the companies argued in court. Insurers, including American International Group, Liberty Mutual …

US Opens $500 Million Fund For Relatives of Boeing 737 MAX Victims

WASHINGTON — A $500 million U.S. victim compensation fund for the relatives of 346 people killed in two fatal Boeing 737 MAX crashes opened Monday, the claim administrators told Reuters. The fund is part of a settlement with the Justice …

Sex Abuse Lawsuits at 400 and Counting as New York Law Takes Effect

ALBANY, N.Y. — The Roman Catholic Church, the Boy Scouts, schools and hospitals, the late financier Jeffrey Epstein are some of the targets named in a flurry of sex abuse lawsuits filed Wednesday in New York as the state began …

Senator Wants Compensation Fund for Recalled GM Cars

Pressure built on General Motors on Monday to take steps to get 1.6 million of its recalled cars off the road immediately and to establish a compensation fund for consumers affected by the company’s faulty ignition switches linked to 12 …

BP Gulf Spill Compensation Fund to be Audited

An independent audit will be performed on the $20 billion fund set up to compensate victims of last year’s BP oil spill in the Gulf of Mexico, Attorney General Eric Holder announced Wednesday. In a letter to the fund’s administrator, …

Japan Approves Tepco Nuclear Claims Plan; Banks’ Help Eyed

Japan’s government agreed on Friday to set up a fund with taxpayer money to help Tokyo Electric Power compensate victims of the crisis at its tsunami-crippled nuclear plant and avoid financial collapse. The government will issue special-purpose bonds to help …