What Sort of Insurance Do Athletes and Sports Teams Need?

Insurance Do Athletes and Sports Teams Need

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…

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UFC athlete insurance sky high for debut event in NYC

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…

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Retired NBA players health insurance plan is “awesome”

NBA Players health insurance

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…

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

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…

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NFL jersey insurance is now sold at Philly area shop

football NFL jersey insurance

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…

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Former USC player files lawsuit against Lloyd’s over insurance policy

football insurance policy

Marqise Lee had been a first round 2014 NFL draft prospect ahead of the college football season in 2013. Marqise Lee, a former wide receiver from the University of Southern California (USC) is suing over an insurance policy after having been injured in the 2013 college football season, during which he had been considered to be a first round prospect for the 2014 National Football League (NFL) draft. During that season, the player was held back by a knee injury and dropped to the 2014 draft’s second round. Finally, the…

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Insurance company to be paid $10 million by Lance Armstrong

lance armstrong insurance company

A recent ruling has now been made against the Tour de France cyclist after the insurer sued for fraud. A panel decision has now been made to order Lance Armstrong to pay his insurance company $10 million after that insurer sued him for fraud in 2013 following his highly publicized case of Fraud in 2012. The decision from the Texas arbitration panel was a vote of 2 to 1 with regards to the Tour de France winning bonuses. According to Bob Hamman, the president and founder of the sports insurance…

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