USC pays over $ 1 billion on gyn sex abuse cases

[MillCreek]

https://www.latimes.com/california/story/2021-03-25/usc-payout-gynecologist-sex-abuse-claims-to-top-1-billion

And this was the fault of a single physician.  From the risk management standpoint, the University grossly mishandled the case once reports started to be made, and in not reporting the doctor to the medical disciplinary board and the police.  If they had done an investigation immediately and taken appropriate action, the financial and patient toll would have been much less.

[WLJ]

In other news USC announces a massive tuition rate hike

[RoadKingLarry]

Obviously this is the fault of white supremacist, toxic masculinity and had absolutely nothing to do with feckless academicians trying to cover up a scandal in their own ranks.

I hate feckless academicians at least as much as I hate Illinois Nazis

https://www.youtube.com/watch?v=ulCw7RJ5eE8

[Hawkmoon]

Obviously this is the fault of white supremacist, toxic masculinity and had absolutely nothing to do with feckless academicians trying to cover up a scandal in their own ranks.

I hate feckless academicians at least as much as I hate Illinois Nazis

https://www.youtube.com/watch?v=ulCw7RJ5eE8

The photo of the [now former] doctor in court appeared to show him wearing a bullet-proof vest. I wonder why ...

[Perd Hapley]

In other news USC announces a massive tuition rate hike

And most of the burden will be borne by USC's female majority student body.

[MechAg94]

In other news USC announces a massive tuition rate hike

https://www.breitbart.com/tech/2020/04/24/usc-accepts-20-million-in-federal-aid-despite-5-billion-endowment/#
USC Accepts $20 Million in Federal Aid Despite $5 Billion Endowment

That is a year old.  They really don't need to increase rates.  But why should they pull money out of their piggy bank?

[Fly320s]

All of the top tier schools have huge endowments, yet still have high tuition rates.  Socialism for thee, but not for me.

[Fly320s]

M.I.T. has $18 billion. https://news.mit.edu/2020/financials-endowment-2020

Yale has $31 billion. https://news.yale.edu/2020/09/24/investment-return-68-brings-yale-endowment-value-312-billion

Harvard has $42 billion.  https://www.harvardmagazine.com/2020/09/harvard-endowment-41-9-billion-on-7-3-percent-investment-return

U of Texas has $31 billion.  https://thedailytexan.com/2019/03/07/ut-now-has-the-second-largest-endowment-in-the-country-what-does-that-mean

[MillCreek]

From a WSJ article today on the settlement:

The $852 million to settle the claims against Mr. Tyndall will be paid over two years through a variety of sources, the school said, including litigation reserves, insurance, the potential sale of assets and deferred capital spending.

In these cases, there is usually lawsuits going on alongside over the issue of how much of the conduct is covered by insurance, and how much is insurance going to pay.  Over recent decades in the commercial insurance world, there are more and more exclusions written into the policy about no coverage for claims on sexual assault or misconduct.  There may be some expense coverage for a legal defense to the claims, but no indemnity coverage to pay for any settlements or awards.  Your homeowners' insurance policy most likely has these exclusions written into the policy as well.

[MechAg94]

That is interesting on insurance exclusions.  I imagine the insurance might also balk at paying when the guilty party's bosses hear the complaints and do nothing about it.  It seems like most of these cases involve multiple people knowing about the issue yet either not believing or not taking action.  In this case, they made him have a nurse in the room and then didn't follow up on the complaints from that. 

[MillCreek]

That is interesting on insurance exclusions.  I imagine the insurance might also balk at paying when the guilty party's bosses hear the complaints and do nothing about it.  It seems like most of these cases involve multiple people knowing about the issue yet either not believing or not taking action.  In this case, they made him have a nurse in the room and then didn't follow up on the complaints from that.

The typical plaintiff personal injury attorney is well-aware of those exclusions, and tries to draft the legal complaint to include allegations that will be covered by insurance.  At the end of the day, you want to sue somebody that has insurance to pay or has lots of financial assets to pay.  So in this case, plaintiff counsel no doubt made allegations about USC engaging in negligent supervision, hiring practices, and employee oversight of the physician, all of which is covered by the typical commercial liability policy.