Boston Marathon Bomb Victims May Turn to BAA Insurance, Central Fund for Compensation

 Monday, April 22, 2013

 Insurance Journal

Victims of the Boston Marathon bombings will eventually win some kind of compensation, but it is far too early to know how much money there will be, whether private donors or insurers will provide most of it, and how long it might take to distribute. Late on Tuesday, state and city officials said they had established One Fund Boston, designed as a central source of compensation for victims. John Hancock, a Boston-based insurer owned by Manulife Financial Corp., has contributed $1 million in seed money. Boston law firm Goodwin Procter will run it.