Yeah I'm a bit surprised by that, too. The negotiations with their insurer must have been really something. Only thing I can imagine is that they cut some sort of deal that makes it worth the insurance company not trying to fight with them over it. Maybe they have to basically pay it back over time with interest..?
My guess is Oberlin pays them a whole lot of money every year. And will pay increased premiums moving forward. For the insurance company it may be a no brainer to keep their business. It will pay for itself in 5-10 years.
Yeah I'm a bit surprised by that, too. The negotiations with their insurer must have been really something. Only thing I can imagine is that they cut some sort of deal that makes it worth the insurance company not trying to fight with them over it. Maybe they have to basically pay it back over time with interest..?