Along with their saying that it was basically not financially harmful to the college as they had plenty of insurance.... which means everyone’s insurance costs go up because this college is stupid.
There WAS an insurance company involved in these proceedings on behalf of the school, but that was only because the school was required to post an appeal bond after the original judgement was handed down. As I understand it, the bond process involves a major financial company putting aside the cash to cover the amount of the award after determining that the school had sufficient assets (real estate, endowment, etc.) to cover the full amount.