Professional Sports Insurance

Athletic trainers and other fitness and rehabilitation professionals are responsible for keeping sports teams at their peak performance. They are critical to a team’s success — keeping players healthy and in the game. To perform their duties and maintain their professional practice, trainers must ensure that they protect their interests by obtaining comprehensive professional liability insurance. We can help determine the right coverage for you and your practice, protecting your assets, license and reputation.

Accidental Death and Dismemberment insurance pays out a lump sum benefit to an insured person when an injury causes death or loss of a body part, including paralysis and brain death. Here, accidents are defined as unforeseen events such as a sports injury, motor vehicle or boat accident, trip and fall, mechanical injury and more.

Professional sports organizations purchase this insurance to provide extra protection for their members to assist with the financial burden of a severe injury or accidental death. A death benefit will pay out 100% of the sum insured amount, while the loss of a body part will cover a specific percentage of the sum insured amount.

Our team can customize an AD&D policy to meet the needs of the organization's risk. Coverage can be extended to any class of individual named by the organization. Benefits include:

• AD&D - lump sum payout
• Permanent total disability - lump sum payout
• Accident medical - expenses not covered by GHIP
• Ancillary benefits for funeral costs, home modifications, bereavement benefits and more
• Sanctioned practices, games, tournaments and competitions
• Loss schedule (enhanced options available)

Performance incentive bonuses can help retain and reward coaches and team administrators; however, they may impact your budget if your team has an unexpectedly successful season. Organizations need proactive strategies to prevent a budget shortfall when paying out contractual bonuses. We provide proactive strategies to help you navigate this issue. We can facilitate contractual bonus insurance coverage so your organization can cover virtually any performance incentive bonus.

Event cancellation insurance protects your sports organization when unforeseen events cause the postponement or cancellation of a covered game or event. It allows for reimbursement of ticket revenue, concession sales, advertising and more. It also includes specific coverage for weather-related claims or terrorist activity.

Typically, professional athletes acquire a more significant number of high-value assets as their wealth increases. However, as their wealth grows, so do their risk exposures. Therefore, when assessing their personal insurance needs, athletes must consider luxury, secondary and rental homes; automobiles, including classic or sports cars; private planes; boats, motorcycles and all-terrain vehicles; jewelry and fine art and collectibles. They should also ensure that they have cyber coverage and determine if they need personal umbrella insurance to protect them from a lawsuit.

Our seasoned experts can help you manage the complex financial protection issues associated with your business, professional and private interests. An investment in high net worth insurance services can help manage the unique set of risks that come with high-value assets and interests.

Personal sports insurance policies protect an athlete's future income in the event of a career-ending injury or illness. This coverage can include permanent total disability, temporary total disability and accidental death and dismemberment coverage.

Redemption-based promotions effectively reach new and existing consumers while increasing activation. However, if consumer response to your promotional campaign is much higher than anticipated, it could adversely affect your budget. Prize indemnity insurance protects promotional campaigns and events, including expensive prizes for winners. By coordinating traditional prize indemnity insurance or establishing a fixed-fee insurance policy, we balance the financial risk and remove the guesswork of offering attractive promotions.

Professional sports may require additional coverage options to address their unique needs. HUB’s vast network of insurance professionals can advise you on the right products to cover your risks, including:

• Auto Liability
• General Liability
• Property
• Crime Protection
• Management Liability
• Media Liability
• Excess Liability
• Equipment Coverage
• Officials and Referees
• Directors and Officers Liability
• Cyber Liability
• Errors and Omissions Liability

Team-purchased insurance coverage protects a team or sports franchise when they invest heavily in an athlete. This policy covers the contractual obligation between the organization and the individual players. It includes:

• General liability coverage with no aggregate
• Accident medical coverage at any level
• Directors and officers coverage