Sports & Events
SPORTS & EVENTS
Sports have always been associated with high energy and adrenaline. It is also a vibrant and emerging investment avenue and the sentiment towards sports-entertainment has never been higher.
With the attention that sporting events garner, it isn’t unusual that corporates and broadcasters the world over are pouring a great deal of funding to be associated with them, the contingencies attached to these associations are also becoming known. Considering the commercial aspect of the unknown factor involves high economic value which could be adverse and the same can be shielded by way of insurance.
RISK FACTORS IN SPORT INSURANCE
The risk factors in Sports Insurance are as varied as the kind of sporting events themselves. For example, an Indian Premier League cricket match could be hampered in many ways, like a rain washout or a FIFA World Cup football match could be affected by a number of reasons like terrorist threats or stadium/pitch invasions by angry fans or spectators. Television broadcasters of live sporting events also carry huge risks in lieu of the humongous rewards they stand to make from the event.
HOW INSURANCE HELPS SPORT
All the uncertainties, whether natural, manmade, to do with unruly fans or the political climate can be covered by way of a Comprehensive Sports Insurance Cover. Broadcasters can also benefit from well designed and structured insurance solutions depending on the various exposures of the associated entities.
THE ALLIANCE EDGE
Alliance has in-house expertise in the sports sector on various sports related structured solutions. Having mentioned that, Alliance is the first broker in the country to structure covers like “Player Loss of Fees” and “Player Bonus” insurance covers which has helped in minimizing high risks associated to this line of business.
PRODUCTS AND SERVICES
Event Cancellation Insurance for
Event Organisers & Sporting Entities
Any economic strain on the generating opportunities due to unforeseen events which is beyond the control of the organisers can be covered under Event Cancellation Insurance
Broadcasters: Television broadcasters have huge ad revenues at stake which can be disturbed due to any interruption in the telecast of a live game
Player loss of Fees Insurance
In an event, if a player suffers an injury and is unable to play the game, the financial losses in term of payment of contractual fees can be well taken care of by availing a Player Loss of Fees Cover
Player Bonus/Prize Indemnity: Having achieved a particular level in the game and the pre-decided prior to the commencement of the game can be covered under Player Bonus Insurances. This can be well used as a promotional activity with a motivational element attached to it.
Standalone Terrorism Insurance Cover
Personal Accident Insurance