Sporting Event Insurance – Covering Your Bases

7th January 2010

When a business decides to throw a baseball game or some other type of athletic show it is important to have your bases covered. Sporting event insurance can provide your business with that type of coverage. A business might not be sure if they can cover such an event but there are all different types of agencies and brokerages that specialise in just this type of coverage.

Maybe you are not sure what type of policy is right for your business. Are you looking to protect your athletes/workers, coaches, directors, volunteers, and your business overall from any potential claims that may arise from bodily injury occurrences or maybe even property damage then there are several different policies your business should look into.

The three main types of coverage to consider when acquiring sporting event insurance are:

● Accident Coverage
● General Liability Coverage
● Directors and Officers Liability Coverage

Accident coverage will pay for the medical bills of anyone who may be injured while participating in your athletic exhibition. Injuries are common during sports play and each participant for your exhibition deserves to be covered in case this happens. The threat of lawsuit is decreased greatly when medical bills are already taken care of by the business hosting the show.

General liability coverage can help in case one of those injuries or any other actions during the event lead to a lawsuit. It may be one of the players or even someone simply watching that suffers bodily harm or property damage due to the negligence of your business. By utilising this type of sporting event insurance you can guarantee that your business has the funds to pay for a defence and any costs that may arise from the settlement as decided by the court. 

More than just the business is covered by general liability. The coverage should include the business, directors, officers, and volunteers as seen in the eyes of the company. Keep in mind that your business does not need to be negligent to be taken to court; a simple allegation will force your business into court.

Directors and officers liability coverage will cover other types of lawsuits that are not covered in the general liability coverage. This can include economic injury and violation of another party’s rights. Some of the more common types of lawsuits covered here are discrimination, wrongful termination or if a participant feels they have been wrongfully suspended from the exhibition itself. This type of sporting event insurance is covered the same as the general liability coverage when it comes to covering any accrued costs.

Just like with any other type of coverage it is very important for your business to look over the policy thoroughly and make sure that all aspects are covered and any exemptions are acceptable. Under some circumstances a business may need more than the three above mentioned types of coverage, make sure that your business is covered adequately. Sporting event insurance is only good for a business when the right policy is in place and used to the extent it is meant for.