[King James]

I'd guess a big reason of why they want to settle out of court quickly is to avoid the bad press from a trial. Not sure of the insurance reasons to do so.

Problem is, with the damning content of the Freeh report, Penn State likely has very little leverage. They can throw out numbers to the victims all they want, but it sure seems like the victims have all the power in the world because there isn't a jury out there that won't give them a huge some of money, and deservingly so.