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  Sutton Special Risk has been providing various products to respond to the unique insurance needs associated with Professional Athletes for over 30 years.
We currently insure players in the National Hockey League, National Football League, National Basketball Association, and Major League Baseball. Additionally, we provide coverage to several high level amateur prospects, protecting their future earnings as a professional.
Our specialty products for the sports world focus on the following financial exposures:
1. Career ending Injury/Illness: Personal Coverage purchased by the athlete to protect their future income from a career-ending injury or illness.
Permanent Total Disability (PTD) coverage is used to protect professional athletes, college players, juniors with highly ranked ‘up and coming’ status and professional sports team executive management from career ending disablement.
Permanent Total Disability is defined as being totally disabled as a result of bodily injury, sickness or disease, preventing the Insured from ever again participating in their own occupation.
Benefits are payable in a lump sum with an elimination period of 12 months.
PTD can be purchased by individual athletes to protect them against personal loss of future potential income or by teams as Key Player coverage to protect their financial interest in guaranteed contracts.
2. Key Player Injury/Illness/Death: Team purchased coverage to protect the Club’s contractual obligation to their key individual players.
Temporary Total Disability (TTD) coverage is designed to respond in the event that a professional athlete is temporarily unable to work. TTD is defined as being wholly and continually prevented from performing the major duties of their occupation, due to accidental injury or sickness.
Options vary from a 60-day elimination period to as long as required and a benefit period from 1 to 5 years. Monthly benefits can be selected to any level which is economically justified.
Teams, protecting their contractual obligation to key players, often purchase TTD coverage, but it is also effective for athletes that have no guaranteed income, such as pro golfers.
3. Catastrophic Team Accident: Team purchased coverage to protect the Club from their exposures to a catastrophic accident, resulting from the accumulation of contractual obligation associated with team travel.
Team Travel Accident
Teams traveling together on a single aircraft or common carrier can result in a high accumulation of financial risk to a professional sports club. The significant financial investment loss at risk could paralyze a sports club. This exposure resulting from a common accident can easily be insured with high individual and aggregate limits, payable directly to the club.
Other products may be applicable to the risk needs of professional athletes, including:
• Kidnap Ransom & Extortion
Kidnap Ransom & Extortion
The incidence of terrorism and transnational crime has increased dramatically in the past decade. No longer entirely political in purpose, some terrorists are primarily concerned with financial gain.
This new phenomenon not only broadens the base of incident probability in respect of kidnapping and extortion, but it creates unique needs for coverage that had previously been unavailable or prohibitively costly. Kidnap and extortion are not just economic crimes. The costs to businesses, large or small, are substantial. The impact on the employees and their families who are directly victimized can be even more severe.
: for high profile athletes to protect themselves and their families
• Contingency Coverage
Contingency
Contingency Insurance encapsulates a wide spectrum of non-standard coverage’s designed to meet a client’s specific needs.
Non-Appearance / Event Cancellation
This coverage is designed to protect a promoter, conference or event organizer from the non-appearance or unforeseen cancellation of a principal artist, group of artists, keynote speaker of any other specified key person for a concert, conference, convention, or exhibition.
Prize Indemnity
Prize Promotions are an effective way to increase exposure and awareness of your product or event.
From a Hole In One prize at a corporate golf tournament to a half-time field goal contest at a major sporting event, Sutton & Co.’s Prize Indemnity coverage protects the insured at an attractive and cost effective percentage of the total prize amount.
Weather Insurance
Weather insurance is designed to protect an event organizer or sponsor from losses directly related to inclement weather.
The coverage is typically purchased under the following scenarios:
1. The insured is protected from loss of revenue due to the cancellation of an outdoor concert or event due to adverse weather conditions.
2. The insurance is used to cover promotions. For example, a tire outlet advertises the return of the cost of snow tires to its customers, during a specific sales period, in the event the area receives more than the established level of snowfall.
Litigation Interruption
This coverage is designed to protect the policyholder in the event the judge, arbitrator, or other key persons in the trial are unable to continue with the litigation of a case due to accident, illness, or death.
such as Disfigurement and Disgrace, particularly important for companies using pro athletes to endorse their products. |
