In this particular article about insurance for sports, we’re going to talk more about how an organisation can protect itself rather than just an individual athlete.
A sports related organisation will usually have several staff involved in sporting activities. These staff could range from coaches and managers, to individual trainers and volunteers. Because there are many people involved, it is recommended to consider several types of insurance for sports.
In no particular order, we’ll start with accident insurance. This level of cover will typically pay for medical bills and hospital treatment to customers, participants, and members in the event of an injury. A good example would be an organisation such as a gym. Spas and gyms can offer excellent training facilities but, they can also pose a lot of risks to its members. Accidents do happen and If a client should become injured and is given immediate and proper medical treatment, as paid through accident insurance, then the risk of a lawsuit is reduced.
General liability insurance is another type of insurance for sports that an organisation would need to purchase. If they provide sporting events where both players and spectators are involved then they will need this type of coverage. If an injury occurs to a spectator, there is the possibility of a lawsuit. A general liability policy may help to pay defence and settlement costs. The injury may not even be the fault of the company but they will still have to defend themselves in court and this can be costly for the organisation. General liability insurance should cover the company itself, as well as staff, volunteers, and managers.
Finally, the third type of insurance for sports is directors & officers liability protection. Not all lawsuits are covered by general liability insurance and there will be some instances where management of an organisation will be sued. For example, a director, officer, or high level manager may find themselves in court for any number of reasons including discrimination, suspension of a player, wrongful termination, and so on.
Insurance for sports can even extend to further policies such property insurance, workers’ compensation insurance or even auto insurance. Essentially, the more people involved the greater the need for multiple levels of cover.
Whilst this article didn’t directly pertain to individual insurance for sports, the message remains that if you are involved in sporting activities then you’ll want to be protected. Most, if not all, organisations will be required to have adequate levels of insurance. Often times, when accidents happen, it’s of no fault to any particular individual. Most sports involve a level of risk and it’s impossible to predict every possible mishap. The comparison can be made with house and car insurance.
Having insurance for sports activities, for players, and spectators, is a must in today’s litigious society. But, it’s not purely about protecting against law suits, it’s about ensuring that everyone involved will be adequately taken care of if an accident should occur.
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