Thursday's settlement requires a judge's approval and could face opposition from insurers that would be on the hook for payouts.

The number far exceeds the initial projections of lawyers across the United States who have been signing up clients since the Boy Scouts filed for bankruptcy protection in February in the face of hundreds of lawsuits alleging decades-old sex abuse by Scout leaders.

The Boy Scouts’ finances have been strained in recent years by declining membership and sex-abuse settlements.