More fallout at MSU

[cliftonparksufan]

I wonder if they have insurance for this kind of thing.

How much would a policy cost for a half a billion dollars?

 

[CuseFaninVT]

How much would a policy cost for a half a billion dollars?

Well, the first policy was expensive, but the next one will be astronomical.

 

[orangecuse]

I wonder if they have insurance for this kind of thing.

The duty to defend is broader than the duty to indemnify. A Commercial General Liability Policy will exclude "intentional acts," which his deviant behavior certainly was. However, CGL policies will pay for "resultant damages." Example: You get punched in the face from a tortfeasor for checking out his girl more to his liking. As a result, you have facial damages, fall to ground and break your wrist. The facial damages most likely aren't covered because the result of your facial damages were probably deemed foreseeable due from the intentional act. However, an argument can be made that you falling back, bracing yourself from the fall and sustaining the wrist fracture, likely wasn't necessarily foreseeable. So, coverage would apply to the wrist for your open reduction, internal fixation surgery.

Professional Liability policies (Malpractice, etc.) cover your negligent/defective "work product," but not liability stemming from a criminal act.

 

[orangecuse]

Well, the first policy was expensive, but the next one will be astronomical.

They will likely go the TPA (Third Party Administrator) route, if not already the case being a large state (funded) school that it is.

 

[orangetrojan]

They will likely go the TPA (Third Party Administrator) route, if not already the case being a large state (funded) school that it is.

I think it'd be a first and not sure if this is totally feasible, but they could basically self-insure by setting up a captive insurance company offshore.

 

[CuseFaninVT]

I think it'd be a first and not sure if this is totally feasible, but they could basically self-insure by setting up a captive insurance company offshore.

Why not vt? Some of my closest friends due captive here.

 

[Capt. Tuttle]

How much would a policy cost for a half a billion dollars?

Sexual assault not covered. Intentional torts are not insured.

 

[Fat tire 13]

So does that mean the Michigan taxpayers are paying?

From what I've read, MSU was trying to use taxpayer money, but it may be shot down by the state. Also tuition money would be diverted from other projects to this fund. It is simply awful. Imagine if you're a student. Sorry you can't get the new physics building, we have to pay for Larry's sins. Obviously they have to get the money from somewhere. I think society would prefer more serious criminal/monetary punishments for the other players in this cover up. That way, it stings a little less when you're paying for the damages (which the victims absolutely deserve, but the players involved don't have enough money).

 

[CuseFaninVT]

From what I've read, MSU was trying to use taxpayer money, but it may be shot down by the state. Also tuition money would be diverted from other projects to this fund. It is simply awful. Imagine if you're a student. Sorry you can't get the new physics building, we have to pay for Larry's sins. Obviously they have to get the money from somewhere. I think society would prefer more serious criminal/monetary punishments for the other players in this cover up. That way, it stings a little less when you're paying for the damages (which the victims absolutely deserve, but the players involved don't have enough money).

Should come out of their endowment.

The university also has an endowment –used to cover scholarships, professor support and “other annual university expenses” – valued at $2.7 billion as of June 30, 2017.

Michigan State $500M Larry Nassar settlement: Who will pay?

 

[Fat tire 13]

Should come out of their endowment.

The university also has an endowment –used to cover scholarships, professor support and “other annual university expenses” – valued at $2.7 billion as of June 30, 2017.

Michigan State $500M Larry Nassar settlement: Who will pay?

This is interesting. I read another article saying endowment is a separate entity which is not required to pay. This article simply states the size of the endowment. Will be curious to see what happens

 

[ottodaorange]

The biggest question that almost no one is asking is how does the state of Michigan come up with half a billion dollars for a settlement for families of victims of Dr. Pedophile, but after years of poisoning the folks of Flint drinking water, which continues to this day, no one can find the money to correct this? The obvious answer that no one wants to say, is because the people of Flint that are suffering are black folks!

 

[ottodaorange]

Why is my "message awaiting moderator approval?"

 

[ottodaorange]

Why is my "message awaiting moderator approval?"

Thank you for posting my post. But my question remains unanswered?

 

[sufandu]

The biggest question that almost no one is asking is how does the state of Michigan come up with half a billion dollars for a settlement for families of victims of Dr. Pedophile, but after years of poisoning the folks of Flint drinking water, which continues to this day, no one can find the money to correct this? The obvious answer that no one wants to say, is because the people of Flint that are suffering are black folks!

Why do some people want to turn something into a racial issue that is not. The more likely significant demographic is that 42% of the population is below the poverty line (including parts of the 43% of the population that isn't "black folks"). They don't have the money or political pull to make the necessary noise.

The Nasser scandal has been fueled largely by the me too movement and the celebrity noteriety/wealth that has kept it in the social consciousness. Why do you think victims went unheard for years until "me too" gained momentum?

What has been happening in Flint is wrong. It would be nice if someone with money/power would champion change. There have been too many people from multiple ethnicities hurt by it.

 

[ottodaorange]

Why do some people want to turn something into a racial issue that is not. The more likely significant demographic is that 42% of the population is below the poverty line (including parts of the 43% of the population that isn't "black folks"). They don't have the money or political pull to make the necessary noise.

The Nasser scandal has been fueled largely by the me too movement and the celebrity noteriety/wealth that has kept it in the social consciousness. Why do you think victims went unheard for years until "me too" gained momentum?

What has been happening in Flint is wrong. It would be nice if someone with money/power would champion change. There have been a too many people from multiple ethnicities hurt by it.

Much of what you say is true. But that doesn't change what happens in Michigan political circles; the focus of my post. From what I've read, most of the victims were white. I agree people of color do not have the same influence as white folks do. The point is that some of the same people in positions of power, elected representatives, are the same people who have done nothing to get clean drinking water to Flint!~ and that is racism.

 

[sufandu]

Much of what you say is true. But that doesn't change what happens in Michigan political circles; the focus of my post. From what I've read, most of the victims were white. I agree people of color do not have the same influence as white folks do. The point is that some of the same people in positions of power, elected representatives, are the same people who have done nothing to get clean drinking water to Flint!~ and that is racism.

That's not even close to what I said. I said poor people don't. Poverty isn't exclusive to any one race.

What's happened in Flint is classism (if that's a word), not racism.

 

[Capt. Tuttle]

This is interesting. I read another article saying endowment is a separate entity which is not required to pay. This article simply states the size of the endowment. Will be curious to see what happens

I I wonder if an endowment can be used for something like this.

 

[Fat tire 13]

That's not even close to what I said. I said poor people don't. Poverty isn't exclusive to any one race.

What's happened in Flint is classism (if that's a word), not racism.

A big part of the equation is a source of the funds, which is something I had been asking about earlier. If it is the endowment, then basically it comes from people who attended, donated, etc. If it is from tuition, then it is only students. It looks like they tried to use state funds, but were shot down by the government. Flint is terrible but not an exact comparison. Like someone else mentioned, the abuse took place for years until it finally tipped into a serious lawsuit. For Flint, and it sounds awful to say this too, but making this right is going to cost an exorbitant amount of money, and therefore the politicians will stall.

 

[orangecuse]

That's not even close to what I said. I said poor people don't. Poverty isn't exclusive to any one race.

What's happened in Flint is classism (if that's a word), not racism.

100% correct! Thanks for enlightening the poster whom made the ignorant and racist statement.

 

[ottodaorange]

100% correct! Thanks for enlightening the poster whom made the ignorant and racist statement.

I'm the poster, but you are the ignorant and racist statement maker!

 

[orangecuse]

I'm the poster, but you are the ignorant and racist statement maker!

Believe as you wish, but you're the one whom implemented the race card when the underlying issue is social standing/class. Just as sufandu stated in regards to poverty.

 

[Whitey23]

 

[Orangezoo]

Good Job NCAA

 

[orange79]

 

[themorey]

What? These people need to be in jail with Nassar, and I'm including the NCAA toolbags who "cleared" them.