[oldalum]

to the tune of $530 million. Lost revenue is $800 million, insurance is for $270 million. Until 2015 they had kept $500 million in savings to make up the remainder as self-insurance, but then decided to spend it because, well, no one had anticipated a pandemic. Seems like they were unclear about the concept of insurance. Wash Post article (paywall) As a result, the NCAA has to reduce its payout to conferences and schools this year from $600M to $225M. (I didn't put this as an Outside Topic because the reduced payout will presumably affect Stanford sports)

[oldalum]

to the tune of $530 million. Lost revenue is $800 million, insurance is for $270 million. Until 2015 they had kept $500 million in savings to make up the remainder as self-insurance, but then decided to spend it because, well, no one had anticipated a pandemic. Seems like they were unclear about the concept of insurance. Wash Post article (paywall) As a result, the NCAA has to reduce its payout to conferences and schools this year from $600M to $225M. (I didn't put this as an Outside Topic because the reduced payout will presumably affect Stanford sports)

[Mick]

to the tune of $530 million. Lost revenue is $800 million, insurance is for $270 million. Until 2015 they had kept $500 million in savings to make up the remainder as self-insurance, but then decided to spend it because, well, no one had anticipated a pandemic. Seems like they were unclear about the concept of insurance. Wash Post article (paywall)  As a result, the NCAA has to reduce its payout to conferences and schools this year from $600M to $225M. (I didn't put this as an Outside Topic because the reduced payout will presumably affect Stanford sports)

Mmm.  I love the smell of lawsuits in the morning...

[Mick]

to the tune of $530 million. Lost revenue is $800 million, insurance is for $270 million. Until 2015 they had kept $500 million in savings to make up the remainder as self-insurance, but then decided to spend it because, well, no one had anticipated a pandemic. Seems like they were unclear about the concept of insurance. Wash Post article (paywall)  As a result, the NCAA has to reduce its payout to conferences and schools this year from $600M to $225M. (I didn't put this as an Outside Topic because the reduced payout will presumably affect Stanford sports)

Mmm.  I love the smell of lawsuits in the morning...

[BostonCard]

Wimbeldon, on the other hand, actually held pandemic insurance.

https://www.sbnation.com/tennis/2020/4/8...41-million

They've been paying for 20 years.

BC

[BostonCard]

Wimbeldon, on the other hand, actually held pandemic insurance.

https://www.sbnation.com/tennis/2020/4/8...41-million

They've been paying for 20 years.

BC

[winflop]

Well at least they weren't as dumb as the US Olympic Committee, who decided not to buy any insurance for the 2020 games - for the first time

[winflop]

Well at least they weren't as dumb as the US Olympic Committee, who decided not to buy any insurance for the 2020 games - for the first time

[oldalum]

Well at least they weren't as dumb as the US Olympic Committee, who decided not to buy any insurance for the 2020 games - for the first time

Of course they didn't: why keep paying all this money out and never getting any back. They decided they weren't going to be played for suckers any longer. 

(here's a thought: could it be more expensive because the professionals who know a lot about these risks have concluded the risk/expense of loss has increased?)

[oldalum]

Well at least they weren't as dumb as the US Olympic Committee, who decided not to buy any insurance for the 2020 games - for the first time

Of course they didn't: why keep paying all this money out and never getting any back. They decided they weren't going to be played for suckers any longer. 

(here's a thought: could it be more expensive because the professionals who know a lot about these risks have concluded the risk/expense of loss has increased?)