Michigan State University Interim President John Engler addressed the $500 million settlement the university made with victims of former employee Larry Nassar Thursday, telling the campus community the speedy resolution marked an important step in the healing process.
In a statement to the MSU community posted to MSU's website, Engler briefly addressed the question of how MSU would pay for the $500 million settlement, noting that the university's insurance carriers participated in the mediation and are expected to "fulfill their contractual obligations."
"In addition, since a $500 million settlement is substantial, I will be working with the Board of Trustees in the days ahead to develop a strategy to carry out our responsibilities required by the settlement," Engler continued.