Football is now a real international industry, especially after the tear on the so-called “ Superlega ”. The great football teams are brands whose human capital is literally worth its weight in gold, but even the smaller teams have become breeding grounds for dazzling new talents that will become heavy investments of the great teams. In fact, the player is the fulcrum of the system, including sports results, TV rights and sponsorships. Therefore insurance is fundamental and reflects the complexity of this sector.
We therefore crossed two main classifications of reference, that of the primary insurance market and the institutional top of the Italian Serie A League to draw up a list of the main football insurance policies:
Insurance In Favor Of Players:
These supplementary insurance with respect to Initial coverage consist of:
- when taking out a life insurance policy in the temporary form in the event of death (so-called group insurance)
- when taking out an insurance policy against the risk of permanent disability due to accident and illness
- policy against the risk of death
- policy against the risk of permanent disability due to accident and illness
Accident Insurance “Young Series” and Non-Professional Technical Staff
This is an insurance coverage which automatically benefits “young series” players and non-professional members of the coaching staff of all clubs.
Coverage For Civil Liability For Damage Caused To Coaches Used To Transport The Clubs Players
The insurance guarantee in question is provided for the Civil Liability incumbent on the companies pursuant to the Civil Code and the sporting regulations, also objectively, for damage caused to the coaches used to transport the players of the teams for vandalism of third parties for which the The Company must answer for the ruling of the judicial authority or federal bodies.
Adverse Weather Conditions (Cancellation)
This contract reimburses the Contractor for the net losses ascertained, in the event that one or more insured shows or events are forcibly canceled, abandoned, postponed, interrupted or rescheduled. Basically, it is possible to provide for an indemnity by way of example in the event of:
- Adverse weather conditions
- Damage or destruction of places
- National mourning
Loss of Revenue
This coverage indemnifies the Insured for the “loss of profit” due to the failure of his team and / or athletes to achieve certain results. The damage that can occur in the event of failure to win a tournament, relegation to a lower category, failure to qualify, etc. are of various kinds:
- Reduction / loss of television rights
- Reduction / loss of sponsors
As an example, just think of the relegation of a football team which involves a huge decrease in revenues.
This contract compensates the Contractor for the net losses established, in the event that one or more insured performances or events are forcibly canceled, abandoned, postponed, interrupted or rescheduled due to the non-appearance of key actors or characters. In particular, it is possible to provide for compensation by way of example in the event of: death, accident, illness of the insured person, unavoidable travel delays.
The policy covers an “Over Redemption” that could arise from the success of a promotion beyond expectations – merchandising in football is an industry in the industry. An “over redemption” which could arise from a “satisfied or reimbursed” promotion also falls within the scope of application of this type of policy, covering the damages that would derive from requests for reimbursement exceeding the pre-established limits.
Another case is the so-called “point collections” in which the company, after sending a certain number of points or proofs of purchase, gives away a certain type of gadget. The costs for the purchase of other gadgets can be covered in the event that the “redemption” exceeds the estimated estimate.
Death Accident and Disgrace
This insurance concerns any “testimonials” of advertising campaigns where the players are the protagonists. It covers all the damages that can occur from tying the name of your company to someone who spoils the image with improper behavior or who suffers accidents that do not allow him to continue that particular advertising campaign.
In all cases in which a sponsor sets prizes and / or incentives to be given to athletes, individually or as a team, in the event of achieving certain objectives, these prizes can be insured with this type of policy. It is therefore possible that a Sponsor insures itself in the event of:
- Winning a championship
- Qualification for a European competition
- Promotion from a lower series to a higher breakthrough of a record
- Any other goal set for an athlete in reference to any sport