This could be the beginning of a whole new market for the insurance industry.

From Bloomberg via the College Fix.

REPORT: Colleges Buy Special Insurance to Cover Campus Rape Scandals

Bloomberg Businessweek reports:

As schools grow more aware of the risk of sexual attacks on campus, some have implemented educational programs for students or reformed how they handle accusations of abuse. A few colleges are doing something else about the problem of campus rape: They’re buying new insurance policies designed to protect them when sexual misconduct scandals arise. 

In recent years, insurance companies such as the Tuscano Agency in Pennsylvania have begun to offer sexual misconduct policies designed specifically for the tangle of costs colleges face from sexual assault accusations and their fallout. Tuscano started offering a policy with a $10,000 premium that covers as much as $1 million in 2012.