NCAA confirms $270M insurance payout for canceled tournament
The
The
"I can confirm that the full claim has been received," an
The organization's insurance, which spans multiple policies, includes communicable disease and pandemic coverage- a rarity for business interruption policies. The same coverage will be in effect for the 2021 Division I men's basketball tourney.
The
The payout will make up for just a fraction of the losses caused by the cancellation of
The
In May,
McNeely, chief financial officer for the
"I can't even say that membership would have had an appetite for what that premium would have cost us, annually, for additional insurance," she said. "The amount of insurance we held was healthy, especially given the probability of the risk."
The
"I'd have to say from their perspective, they're going to be pleased as punch," he said of the
Insurance is one of several ways the
The maneuvers are intended to help the
"The remediation plan is working as designed. If the
Rather than completing the distribution of
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