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