Former Penn State University assistant football coach Jerry Sandusky in an Oct. 9 file photo (AP Photo/Matt Rourke, File)

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. 

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