Scandal-plagued PwC would determine payout rates under scheme proposed by Catholic Church Insurance in effort to avoid insolvency
The Catholic church insurer wants to establish a scheme that would stave off its own insolvency by paying church bodies only a fraction of the money owed to abuse survivors, at rates to be determined by scandal-plagued consultancy PwC, documents show.
Catholic Church Insurance is facing significant financial turmoil due to the rising volume of abuse claims, estimating it has $381m in liabilities relating to professional standards payouts to various church entities, including dioceses and church-aligned charities.
About Author
More Stories
Labor loses $1bn from Victoria’s upcoming budget surplus in favour of ‘practical’ cost-of-living relief
Trump says he has a ‘little problem’ with Tim Cook over Apple’s India production
Son Heung-min tells South Korean police he is victim of blackmail attempt