Penn State says it has reached settlements with 26 victims of former assistant football coach Jerry Sandusky valued at nearly $60 million.
“The university maintains various liability insurance policies, which the university believes cover the settlements and defense of claims brought against Penn State and its officers, employees and trustees,” according to a statement from the university. It says the terms of the settlements are subject to confidentiality agreements.
University President Rodney Erickson has said Penn State has “multiple stacks” of civil liability insurance as well as directors’ and officers’ liability insurance “to cover the defense of the university’s executives, employees, trustees and so forth.”
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
