But that is not how research works in Academia. They have to follow the bleeding edge of the field, or they may be doing work of their own that is already irrel

But that is not how research works in Academia. They have to follow the bleeding edge of the field, or they may be doing work of their own that is already irrelevant. They will not wait until a consortium of insurance companies and underwriters have done the actuarial analysis and come up with an underwriting product that the institution has funded (and what is the institution's business model for recovering this cost in a field of pure research, anyway?)