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.
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