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AngryAmish

(25,704 posts)

9. The way a lot of municipalities in Illinois do it

Reply to MadHound (Reply #5)

Tue Jul 17, 2012, 01:55 PM

Jul 2012

They pool their money into one giant pool, hire lawyers to defend them, invest the pooled money and buy an umbrella policy through Lloyyds for judgments over a certain amount, say $10,000,000. In other words they could self insure. I am not familiar with the need for insurance to have a university but they could self-insure.

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I don't think that Penn State is going to get the death penalty [View all] AngryAmish Jul 2012 OP

Agree- NCAA should disband after the verdict (NM) Rambis Jul 2012 #1

The fact is, Penn State may not survive as a university, much less as a football team MadHound Jul 2012 #2

Couldn't PSU just declare Chapter Nine? AngryAmish Jul 2012 #4

Possibly, I don't know, MadHound Jul 2012 #5

The way a lot of municipalities in Illinois do it AngryAmish Jul 2012 #9

Agree... this could be the end of Penn State.... lib2DaBone Jul 2012 #8

PSU has an endowment of 1.3 Billion. Are_grits_groceries Jul 2012 #10

As always - follow the money rurallib Jul 2012 #3

After SMU sadbear Jul 2012 #6

NCAA boss isn't ruling out the possibility: Initech Jul 2012 #7

they could if it distracts people from the actual University Johonny Jul 2012 #11

The judge will combine all the victims (known and to come forward in the SDjack Jul 2012 #12

This is a likely scenario alcibiades_mystery Jul 2012 #14

PSU football will not get the so-called "death penalty" alcibiades_mystery Jul 2012 #13

I don't think so. AngryAmish Jul 2012 #16

That's a nice thought alcibiades_mystery Jul 2012 #17

What is the mechanism within PA law that allows class actions for multiple torts? AngryAmish Jul 2012 #18

I am certainly misusing the term alcibiades_mystery Jul 2012 #19

Well they are East of the Mississippi taught_me_patience Jul 2012 #15