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What Sort of Insurance Do Athletes and Sports Teams Need?

June 5, 2020 Guest Author

As we all know, if you’re prepared to pay enough, you can insure just about anything. For example, actors regularly insure parts (or all) of their bodies for eye-watering sums. Some of the most famous examples of this include Heidi Klum, who insured her legs for $2 million each, Julia Roberts insured her teeth for $30 million, and Daniel Craig who insured his entire body for $9.5 million. While this may seem a little vein, it actually makes good business sense. Actors use their bodies to make big money, so…

UFC athlete insurance sky high for debut event in NYC

November 2, 2016October 31, 2016 Julie Campbell

Madison Square Garden New York City athlete insurance

The organization spent millions to make MMA legal within the state and will now face high premiums. The UFC won its lobby to legalize mixed martial arts in New York but athlete insurance in the state is proving to be costly. It has already spent millions of dollars just to be able to hold events in New York. Now that it is facing its debut event in NYC, the state’s unique coverage regulations are driving up costsw. The state requires $1 million in traumatic brain injury insurance coverage for each…

Retired NBA players health insurance plan is “awesome”

August 1, 2016July 29, 2016 Julie Campbell

The union has now secured coverage for former professional basketball players. The National Basketball Players Association (NBPA) announced new retired NBA players health insurance. Chris Paul, the president of the players union, explained that this was one of his goals. NBA players who have spent more than three years in the league will receive this health insurance coverage. John Wallace, a retired player who spent 7 seasons with the NBA – two of which were with the Knicks – said “It’s absolutely awesome.” Wallace added that Executive director of the…

First draft value insurance claim to be paid to Ifo Ekpre-Olomu

October 6, 2015October 4, 2015 Julie Campbell

money draft value insurance industry shopping saving rate

Last may, the Browns drafted the rookie cornerback in the seventh round, but the player has been injured. Ifo Ekpre-Olomu was drafted by the Browns in the seventh round in May 2015, but will now be the first player to ever collect on draft value insurance because he will now be spending his entire rookie season sitting out the games on the non-football injury list. While many had expected him to be a first round pick, that was changed when he was injured in December 2014. According to a recent…

NFL jersey insurance is now sold at Philly area shop

May 6, 2015May 5, 2015 Julie Campbell

The coverage is meant to protect people against losing the investments in sporting goods. A new type of NFL jersey insurance has now been created in order to help to give more confidence to people who would love to make an investment into these $100+ sporting goods but who are nervous that situations could change and their purchase could rapidly become worthless. The insurance policy is available at a sporting goods store that has 18 locations in the Philadelphia area. The store in question is called Schuylkill Valley Sports and…