USA Gymnastics, the U.S. Olympic and Paralympic Committee and their insurers have reached a settlement with victims in the Larry Nassar scandal.  

The groups have agreed to pay $380 million to gymnasts who Nassar sexually abused. The settlement was approved by Judge Robyn L. Moberly in U.S. Bankruptcy Court in the Southern District of Indiana on Monday, CNN reported.  

RELATED: Judiciary Committee Presses for More Action in Larry Nassar Investigation  

The settlement is a part of USA Gymnastics’ plan to exit bankruptcy as the organization continues to struggle to recover from the scandal.  

On Sept. 15, gymnasts Simone Biles, McKayla Maroney, Maggie Nichols and Aly Raisman testified at a Senate hearing about the FBI’s handling of complaints against Nassar. Biles said, “I don’t want another young gymnast, or Olympic athlete, or any individual to experience the horror that I and hundreds of others have endured before, during and continuing to this day in the wake of the Larry Nassar abuse.”  

RELATED: Simone Biles: FBI Failed Us in Larry Nassar Investigation 

The Olympian said the FBI “turned a blind eye” to Nassar’s victims. In her testimony, she continued, saying, “We have been failed and we deserve answers. Nassar is where he belongs, but those who enabled him to deserve to be held accountable. If they are not, I am convinced that this will continue to happen to others across Olympic sports.”  

Insurers will pay a majority of the settlement, but the U.S. Olympic and Paralympic Committee will pay around $34.4 million and loan about $6.1 million to USA Gymnastics so it can pay its part of the settlement, according to CNN.  

This is not the first settlement related to Nassar’s abuse. In 2018, Michigan State University reached a settlement of $500 million to pay 332 of Nassar’s victims.  

Nassar is now serving a 60-year sentence in federal prison on child pornography charges. Additionally, he was sentenced to a 40-to-175 year sentence in state prison in Michigan after pleading guilty to multiple counts of criminal sexual conduct.  

USA Gymnastics President and CEO Li Li Leung released a statement saying, “USA Gymnastics is deeply sorry for the trauma and pain that Survivors have endured as a result of this organization’s actions and inactions.”  

RELATED: Simone Biles May Consider Staying ‘Far Away’ From USA Gymnastics  

If you or someone you know is struggling from trauma triggered by this story, resources are available here.