University insurance costs rise in wake of Moffet laboratory fire
University insurance rates more than doubled this year, sharply cutting into a budget already hurt by a weak economy, University treasurer Christopher McCrudden said this week.University insurance policies have gone up by $700,000 since last year and "will undoubtedly put a lot of pressure on the budget," McCrudden said.The University had expected an increase this year but did not anticipate rates going up as much as they did, now making them the largest single expense for the University, he said.The University will now have to cut costs or increase income to pay the higher rates, he said.Insurance rates nationwide increased considerably during the last year largely because of Sept.