Penn State ‘Adequately Covered’ for Suits

Penn State’s president says the university is “adequately covered” to handle lawsuits stemming from the child sex abuse scandal but hopes to settle many of them “as quickly as possible.”

Rodney Erickson told CBS’s “Face the Nation” program in an interview taped for broadcast Sunday that the university has “both directors and officers as well as general liability coverage” like any institution of its size.

“We believe that we are adequately covered,” he said in a clip posted Saturday on the program’s website.

Erickson also said “we hope to be able to settle as many of these cases as quickly as possible” so as not to “drag victims through another round of court cases and litigation.”

At least two accusers have indicated that they plan to sue.