Sports Insurance - Indemnity Against a Career Ending Injury
Sports Professionals should make provision by arranging a Personal Accident Policy/ Sports Insurance to ensure their financial security should their worse fears come true.
If you are interested in obtaining a bespoke quotation from one of our specialist sports insurance brokers please download and complete the Pro Sports Proposal Form below and return to info@caunceohara.co.uk
Download the Pro Sports Proposal Form
Insurance for Sports Clubs
Your sports players are one of your biggest assets. Unfortunately they can also be your biggest liability.
A freak accident could instantly end a sport player's career. Long term injuries, off the pitch incidents and lengthy bans can all be a drain on your wage bill and that's before you have to pay for a replacement.
These days a club's wage bill can account for up to 50% of its annual turnover, so losing a sports player indefinitely would seriously hamper any club's finances.
Caunce O'Hara has developed a catastrophic insurance policy to protect clubs financially when things go wrong.
We will work closely with you to tailor an insurance policy that suits your individual needs. For added peace of mind our policy offers 24 Hour cover for players whether on the pitch or off it.
Insurance policies for Club Stadia
Most standard Commercial Combined policies are not sufficient to pick up all the risks associated with Club Stadia. Caunce O'Hara has specific expertise in this area to arrange covers from Premier League Football Club Stadia all the way through to clubhouses for amateur sports clubs.
Our Indemnity insurance Policies can include cover for the following items not normally included under a standard Indemnity policy:
· Floodlights
· Malicious Damage to Pitches
· Cups and Trophies
· Playing Kit anywhere in the world
· Electronic Scoreboards
· Goalposts
· Groundsmans Equipment
· Bar Stocks
· Gaming Machines
· Large Cash Limits
· Loss of Licence
Contractual Bonus Insurance
With sports sponsorship spending running into billions of pounds, it is no wonder that both the Sponsors and Owners of professional teams and individuals are constantly looking for better results which, in turn, allow those teams or individuals to seek better contract payment terms.
Contracts between the team or individual and the team owner or sponsor are often bonus-related, making them difficult to budget with any great accuracy. The sums of money involved across all types of sport can be daunting, even for the largest of sponsors or clubs - bonuses of millions of pounds per player are common at the highest level. With Caunce O'Hara's bonus indemnity insurance you can rest assured that you will not be caught out by a bumper bonus season.
What is Contractual Bonus insurance?
Contractual bonus insurance can be arranged to cover bonuses paid to a professional team or individual should the individual or team meet pre-determined win or placing objectives. Cover enables a sponsor or owner to set the budget for the payment of bonuses, rather than having a large potential liability on the balance sheet. By setting the costs of a bonus, higher bonuses can be offered along with more attractive contracts, thus potentially attracting better class athletes.
The Contractual Bonus insurance is tailored to the bonus contract and can be arranged to cover different levels of success. The most common placements are for winning a competition, but cover can also include:
· Being promoted to a higher league
· Qualification for an International competition
· Winning or being placed in major competitions
· As this is a policy of indemnity, the insured person or company must be contractually liable to pay the bonuses.
Spectators Prize Indemnity
Sponsors of various sports events now look to audience participation to increase brand awareness. It is becoming commonplace for halftime intervals to be used to maintain the crowd's interest by running various promotions. Similarly, events and companies may wish to attract people to attend through a competition with a prestigious prize being offered, increasing awareness of an event and its sponsor, especially when the prize is won.
Cover can be arranged to indemnify the organiser or sponsor for their cost of awarding a prize during such a promotion. The number and types of competitions that can be covered are limited only by one's imagination but examples are:
· A spectator kicking a football through a hole in a board covering the goal, or a penalty shoot-out competition against another spectator · 100 yard Throw – hit a single cricket stump to win a car · Kick for a Million – A participant scoring a progressive sequence of three conversions from different positions on a Rugby pitch · Scoring a basket from the halfway line on a basketball court
In this ever increasingly litigious Society it is essential for all sportsmen and women to carry bespoke liability insurance for their chosen sport. Caunce O'Hara has many years of expertise in this area and can offer facilities for Professional Sports Clubs right through to every amateur sport you can think of.
Insurance for sports professionals
Sports professionals are particularly susceptible to career ending injuries and depending on the age of the individual concerned this may result in serious financial difficulty.
For more information contact our sports insurance brokers today on 0161 833 2100.
