I'll admit I don't have any evidence that would indicate that a school would be legally held liable if something were to happen to a student while abroad. However, I can very well imagine that somewhere, someone would attempt to hold them liable for the safety of their student. In the US, I've seen schools sued for all sorts of things that they have far less control over - illegal acts by passersby, loss of utilities due to issues off campus, and more.
That said, there is a certain responsibility that is expected from a school when making a program of study available, particularly study abroad. A school would be deemed irresponsible if they were to offer study abroad in, say, an active war zone. Aside from the legal aspect, there is also a social aspect. Nobody wants to be the school that sent a 13 year old prodigy to his death in South Africa. Whether or not the school was responsible in any way, the media and public opinion would damn them. And that kind of bad PR is definitely a liability!
That said, there is a certain responsibility that is expected from a school when making a program of study available, particularly study abroad. A school would be deemed irresponsible if they were to offer study abroad in, say, an active war zone. Aside from the legal aspect, there is also a social aspect. Nobody wants to be the school that sent a 13 year old prodigy to his death in South Africa. Whether or not the school was responsible in any way, the media and public opinion would damn them. And that kind of bad PR is definitely a liability!