U.S. university insured Chinese student tuition against virus. Then COVID-19 hit

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U.S. university insured Chinese student tuition against virus. Then COVID-19 hit
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After becoming dean of the University of Illinois business school in 2015, Jeffrey Brown worried that politics or a virus would choke off a major source of revenue for his school: Chinese graduate students.

Jeffrey Brown, dean of the Gies College of Business at the University of Illinois, poses at the school in this undated handout photo. University of Illinois/L. Brian Stauffer/Handout via REUTERS NO RESALES. NO ARCHIVES. THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. MANDATORY CREDIT

The policy could have been renewed by Christmas last year, but a bureaucratic misstep necessitated a new broker, delaying the process, according to the emails and two of the sources. That meant the virus hit as brokers at a Marsh & McLennan Co Inc unit that took over were negotiating the renewal with lead insurer AXA XL through the Lloyds of London insurance marketplace.

Brown had long worried about such a possibility. In an interview in February 2019, he told Reuters that his “nightmare scenario back in 2017 was that we would have a big flu scare that caused none of the students to show up on campus.” The policy first proved prescient when President Donald Trump’s trade war with China and anti-immigration policies raised the specter of Chinese and other foreign students looking elsewhere for higher education.

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