The Archdiocese of New York is reportedly in danger of bankruptcy unless it raises hundreds of millions to pay off roughly 1,700 people who allege priests and lay staff members sexually abused them as minors. Despite $8 million in real estate selloffs in the past two years, the $300 million fund for these victims is still insufficient. Parish pastors were told they would have to dip into their parish coffers to collectively raise up to $400 million. The archdiocese represents 2.8 million Catholics in Manhattan, The Bronx, Staten Island, and seven Hudson Valley counties. The insurer, Chubb Ltd., has been asked to negotiate settling the claims for up to$2 billion as part of the negotiations.