Sat Jul 28, 2012, 06:56 PM
LNM (708 posts)
Penn State president: School is covered for lawsuits
Source: USA Today
Rodney Erickson told CBS's Face the Nation program in an interview taped for broadcast Sunday that the university has general liability coverage like any institution of its size.
"We believe that we are adequately covered," he said in a clip posted Saturday on the program's website.
"In addition to that, we hope to be able to settle as many of these cases as quickly as possible," Erickson said. "We don't want to, if at all possible, drag victims through another round of court cases and litigation. If we can come to an agreement with them, with their attorneys, we believe that would be the best possible outcome in this whole very, very difficult, tragic situation."
Penn State's general liability insurer sought last week to deny or limit coverage for Sandusky-related claims. Pennsylvania Manufacturers' Association Insurance argued that Penn State withheld key information needed to assess risk.
Read more: http://www.usatoday.com/news/nation/story/2012-07-28/penn-state-scandal-liability-insurance/56560802/1?csp=34news&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+usatoday-NewsTopStories+%28News+-+Top+Stories%29
4 replies, 1358 views
Penn State president: School is covered for lawsuits (Original post)
|marble falls||Jul 2012||#4|
Response to LNM (Original post)
Sat Jul 28, 2012, 07:15 PM
truedelphi (25,960 posts)
1. This insurance liability issue will end up being a matter for the Courts to
Last edited Sat Jul 28, 2012, 07:15 PM USA/ET - Edit history (1)
Sort out. I am surprised to find out that a Penn State official would discuss this on TV.
And it may not go well for the University.
If as an insurance policy holder, who may be a person or an institution, fails to obey the law, fails to obey normal convention protocols, such as ensuring that complaints against individuals who are suspected of child abuse and endangerment are properly handled, and are examined and have repercussions, but instead offer immunity to whatever members of your hired personnel that are doing the abusing, the person or institution may find they are NOT covered.
I can't as a homeowner insure my property for fire insurance and then
allow local kids to proceed to hold pyrotechnic events held at my house.
Should such events occur without my knowledge (while away on vacation, for example) i may still retain the right to be reimbursed under my fire insurance should the property go up in smoke.
But if I have knowingly let kids do this, with people complaining to Fire Department about this, I'm out of luck.
Response to LNM (Reply #3)
Sun Jul 29, 2012, 08:39 AM
marble falls (1,909 posts)
4. I think its the students that are, were, and will be screwed literaly and figuritively ....
I still get no sense of Penn State 'getting it', if this criminality hadn't come out the way it did Penn State would STILL be covering it up and Jerry Sandusky would still be out there as a sexual predator.
Response to LNM (Original post)
Sat Jul 28, 2012, 07:16 PM
Curmudgeoness (10,498 posts)
2. This may be his statement, but
since the insurance companies that insure Penn State and Second Mile have filed in courts to not be required to pay, I am not sure this statement is accurate. Since no courts have dealt with this yet, it seems that he is premature in making this claim.