New York Catholic Bishops
ALBANY — The Catholic bishops of New York sold a lucrative insurance business they controlled and stored the proceeds in a foundation they also administer, keeping billions out of the reach of survivors of childhood sexual abuse.
The move occurred in 2018, with the church selling its Fidelis Care insurance company and moving $4.3 billion of the proceeds into the new Mother Cabrini Health Foundation. At the same time, the Child Victims Act in New York was gaining momentum in the Legislature, a measure that the church had lobbied against for more than a decade. It was ultimately signed into law a year later; and it has exposed the church to thousands of lawsuits alleging sexual abuse of children and, in some instances, the coverup of those incidents and shielding of predators.