The Sydney Morning Herald
December 22, 2020
By Chris Vedelago
The Catholic Church’s private insurer spent more than $58 million paying out the victims of sexual abuse last year and the company is being forced to raise fresh capital and liquidate investments to cover a future compensation bill worth at least another $238 million.
Catholic Church Insurance (CCI) has posted nearly a $250 million loss as it struggles to meet a wave of new claims in the wake of the Royal Commission into Institutional Responses to Child Sexual Abuse.
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