More than $110 million in victim settlements and other coststhat Penn State has incurred in the Jerry Sandusky sexual abusescandal could lead to years of higher liability expenses there andat other universities, insurance experts warn.
|“Whenever you have an event like this, it can change insuranceunderwriters' view of the risk not only at the specificinstitution, but at institutions of higher education more broadly,”said Scott Harrington, director at the Wharton/Penn Risk andInsurance Program at the University of Pennsylvania. “All thingsbeing equal, you tend to have a tightening in the market” andhigher prices for liability policies.
|Read more from Adam Smeltz at TribLIVE HERE.
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