NCAA had a 227 million event cancellation policy

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Mar 26, 2020
12:48:50pm

OU Cougar Truly Addicted User

NCAA had a 227 million event cancellation policy

It hasn’t paid out yet. I wonder how much the premium was, I feel bad for that insurer. Hard to foresee this.

Either way, schools are taking a big hit.

NCAA slashes payouts to schools by $375 million in wake of coronarivus cancellations

NCAA is dealing with loss of revenue from cancellation of March Madness due to coronavirus pandemic. Tournament normally provides close to $1 billion.

https://www.usatoday.com/story/sports/ncaab/2020/03/26/coronavirus-issues-cause-ncaa-slash-payouts-member-schools/2916805001/

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OU Cougar

Previous username: BYU on the way
Bio page: OU Cougar
Joined: Oct 22, 2002
Last login: Apr 19, 2024
Total posts: 41,891 (336 FO)

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Messages

Author

Time

NCAA had a 227 million event cancellation policy

OU Cougar

3/26/20 12:48pm

Insurers for this kind of liability are getting annihilated — unless they have some good language

Indy Coug

3/26/20 12:50pm

Like nearly all business policies it is unlikely that this is a covered peril.

JAGA97

3/26/20 1:16pm

I wonder if this is why the NCAA cancelled the tournament rather than postponing

3/26/20 12:52pm

This. The NCAA gets all the insurance money and doesnt have to give any to the

stlcougs

3/26/20 12:54pm

NCAA does not have the schools'/athletes' best interests at heart?

JackStack

3/26/20 12:56pm

Boardmail Yoeli

Indy Coug

3/26/20 12:59pm

Not shedding tears for most schools

Gustav

3/26/20 1:00pm

Looks like SEC had its conference tourney insured; B12 did not

Gustav

3/26/20 1:11pm

The SEC...It just means more.

Hotty-Toddy-Reb

3/26/20 1:41pm

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