Wednesday, March 18, 2020

Insurance Won't Cover Losses

D3Playbook
MARCH 18, 2020 | written by STEVE ULRICH
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1. Insurance Won't Cover Losses
 
March is without the Madness this year.
by Steve Berkowitz and Dan Wolken, USA TODAY

"Major-college athletics directors are planning on the NCAA not being able to cover all of the revenue it will lose because of the cancellation of the Division I men’s basketball tournament due to the coronavirus outbreak, six ADs and college sports administrators have told USA TODAY.

That is likely to result in a reduction of the association’s scheduled distribution of $600 million to Division I schools and conferences this spring, the ADs and administrators said. How much of a reduction is still to be determined, and that will depend on the association’s ability to tap its reserves and borrow money.

The ADs and administrators spoke on the condition of anonymity because the financial details are still being worked out.

“The economics of all this could definitely be extensive,” one AD said."

>> Situational Awareness: "The association has $250 million to $275 million in business-interruption insurance connected to the tournament, the ADs and administrators have been told, but it is unclear how quickly that money would come to the NCAA – or how much. These types of insurance claims can bog down in a variety of disputes, and catastrophic-event insurance markets are likely to be under stress because of the global pandemic."

>> Worth Noting: "From 2004 through 2014, the NCAA accumulated nearly $400 million in a fund that was created as a reserve against the possibility of a massive loss of revenue from the tournament. However, at the direction of its governing board of college presidents, the NCAA distributed that money to schools to help them with increasing costs and spent it on their behalf in other ways, including a $208.7 million legal settlement."

>> Keep Reading

 
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2.  NCAA Goes Remote

"Due to the evolving COVID-19 public health situation, the NCAA national office will suspend normal building operations in Indianapolis from Wednesday, March 18, through at least Friday, April 3. All other operations will continue as the NCAA national office staff works remotely. NCAA employees will continue to be accessible through regular communication channels. The length of the suspension will be evaluated on an ongoing basis."

 

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3.  Admissions Fears

by Scott Jaschik, InsideHigherEd.com
 
Admissions officers are deeply worried about the potential impact of the coronavirus on enrollment, a new survey suggests.

Asked to rank their prospects for the yield -- the percentage of admitted applicants who will enroll -- 43 percent of enrollment leaders answered 5, on a scale of 1 to 5, with 5 being the worst. And 32 percent answered 4.

Those are among the answers to a survey released by EAB on Tuesday on admissions in the era of the coronavirus.

>> Go Deeper

 
4.  1 Democracy Thing



Many of China's measures to combat the coronavirus aren't authoritarian: They are the kind of total social mobilization that happens during war, Axios China reporter Bethany Allen-Ebrahimian writes.
  • Why it matters: Democracies are perfectly capable of taking extreme measures when necessary.
Reality check: Citywide quarantines, travel restrictions and obsessive public health checks aren't authoritarian. They're the kind of total mobilization that happens during major national crises such as war, regardless of the system of government.
Democracies have a long history of successful mobilization, and they have mechanisms that both enable extreme policies and bring them to an end when they are no longer needed, to prevent authoritarian creep.
  • During World War II, the U.S. was initially paralyzed by a domestic debate about whether to get involved at all, said Maury Klein, the author of "A Call to Arms: Mobilizing America for World War II," in an interview with Axios.
  • "Things always move slower in a democracy," said Klein, because the various moving parts of government and society must first reach consensus.
What to watch: Fundamental questions about the health of our governance today and the effectiveness of our leadership suggest the United States may not rise to the occasion as well as it did almost 80 years ago.

- courtesy of Axios

 
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