Our services:
- Bad debt insurance
- Financial loss liability insurance
- Health management
- Advertising cancellation insurance
- Organizer liability insurance
- Cyber risk
- Market value hedging
- Sports facility insurance
- Technical insurance
Further covers:
- TV contingency insurance
- Prize-Indemnity - Prize-Bonus Insurance
Insurance cover for associations and clubs
In today's dynamic and demanding sporting environment, the right insurance cover is essential for sports clubs. Sports clubs face a multitude of risks, be it in the area of liability, property or the health and safety of members, staff and athletes. A comprehensive insurance policy is not only a financial protection, but also a guarantee for the continuity of sports operations. Given these challenges, finding an insurance solution that is tailored to the specific needs and risks of each sports club is a top priority.
Products in detail
Bad debt insurance
Bad debt insurance for clubs protects against payment defaults in the areas of sponsorship, box rental and merchandising. It also protects against insolvency administrators claiming these monies retroactively over 4 years. It is particularly important for clubs that rely on regular income from sponsorship to maintain their match operations. The cover offers financial planning security, secure debtor management and improved pre-financing options. An individual consultation helps to find the right solution for the club.
Financial loss liability insurance
Professional sport is not just about victories and trophies; it is a business with a lot of money at stake. Players are brokered, license agreements concluded and sponsorship contracts negotiated. A thicket of contracts connects clubs, associations, player agents and companies.
With so much business activity, there is always the risk that someone will infringe someone else's rights, and infringements of marketing, licensing or personal rights can result in high claims for damages. In such cases, financial loss liability insurance can help. It limits the insured person's liability risk if business partners claim financial losses.
Cyber risk
Cyber risk insurance protects you and your company against the financial consequences of cyber attacks. It covers damage caused by hacking, data loss, business interruption, cyber extortion and other digital threats. The insurance covers not only the protection of the IT systems themselves, but also the associated liability risks.
Cyber risk insurance is an important part of any modern company's risk management strategy. In particular, companies that collect and store customer data are at high risk and should take out comprehensive insurance.
Health management
How do you promote health in your company? We offer you a solution with which you can position yourself as an attractive employer. Your employees receive an annual health budget that allows them to choose exactly what they need from a wide range of health services.
Advantages for you as a company:
- Increase employee loyalty and health
- Social responsibility
- Strengthening the success factor "people"
- Expansion of your recruiting concept
Market value hedging
When soccer fans talk about their idols, they often do so in an adoring manner. The relationship between clubs and their staff, on the other hand, is sometimes very sober. For them, players are simply valuable assets and economic goods. And like any normal company, the clubs protect their valuable assets.
In sport, market value insurance is used for this purpose. It pays a contractually agreed sum if the athlete is permanently unable to play due to illness or injury. If the loss of a player already means a sporting loss, clubs can at least limit the economic damage with such policies.
However, the sum insured does not have to correspond to the actual market value of the player.
Advertising cancellation insurance
Nowadays, complex advertising boards are often used, which not only allow several sponsors to be shown alternately, but also enable animations in some cases. But the more complicated the technology, the more things can go wrong. The rotating mechanism can jam or a power failure can paralyze the video display - to the detriment of the sponsors.
Such risks can be covered by advertising cancellation policies. They are particularly interesting for advertising marketers who have contractually guaranteed their customers certain presence times. If they cannot keep their promise, contractual penalties become due. The insurance then covers the lost income.
Sports facility insurance
Germany has the most modern soccer stadiums in the world. For the clubs as owners, the stadiums are a valuable asset that they must insure against possible damage.
There is sports facility insurance for this. They basically work in the same way as homeowners' insurance - only the amounts involved are different. The policies cover damage caused by mains water, fire or storms, for example. The insurance also covers stadium installations such as technical equipment. It is also possible to insure sports facilities against damage caused by terrorist attacks. Many sports facility operators have made use of this option.
Organizer liability insurance
Bundesliga matches are mass events. That's great, because lots of spectators create a good atmosphere in the arenas. However, full stands are also a source of danger. Clubs must therefore take precautions to ensure safety in the stadium. This is because the club is liable if it culpably breaches its duty of care and third parties suffer damage as a result.
Organizer liability insurance is there to cover such risks. It protects the club against any claims for damages. The policy is an absolute must for sports organizers, as the liability risks can be enormous. It is not for nothing that Bundesliga clubs have to provide proof of sufficient liability insurance as part of the licensing process.
Technical insurance
The appeal of sport is unbroken. In view of the high demand and the importance of ticket sales, it is not surprising that clubs are constantly looking into expanding or building new stadiums. Newcomers in the top leagues sometimes only receive a license if they meet certain stadium expansion requirements.
However, such large-scale projects are unthinkable without technical insurance. They cover various risks during the construction phase. For example, they cover the costs of damage caused by the use of faulty materials. Even loss of earnings or additional costs due to construction delays can be insured with such policies.
Golf course insurance
This is a specialized insurance tailored to the needs of golf courses.
It offers protection against a variety of risks to which golf courses are exposed.
Here are some important points that such insurance should cover:
- PROPERTY INSURANCE
- LIABILITY INSURANCE
VARIOUS EXTENSIONS OF COVER: SUCH AS MACHINERY INSURANCE (MOWING MACHINES, GOLF CARTS, BALL CLEANING EQUIPMENT, ETC.), ELECTRONICS INSURANCE (OFFICE EQUIPMENT), GROUP ACCIDENT INSURANCE (MANAGEMENT AND EMPLOYEES)
It is important that golf course operators have a comprehensive insurance policy that covers their specific needs and risks. Every golf course is unique, so the insurance policy should be customized accordingly.
Further covers
TV contingency insurance
A thunderstorm had caused a power outage at the broadcasting center and the emergency power system was not working. Such broadcast failures are annoying. They cause frustration for TV viewers and damage for broadcasters and costs for the association - depending on who bears the economic risk.
Liability risks can be covered with TV breakdown insurance. The policies provide cover in the event of technical faults, for example if the TV signal cannot be sent to a satellite.
Prize-Indemnity - Prize-Bonus Insurance
It compensates for lost income such as lost sponsorship or television money if certain sporting goals are not achieved. This could be missing out on the Champions League or relegation, which is associated with financial losses. The probability of an insured event - and therefore the premium amount - is determined on the basis of betting odds, among other things. Protection against relegation would therefore be more expensive for a chronically relegated team than for a team that is reliably in the top half of the table.
Such insurance is also available in the event of success. This can be used, for example, to insure the bonuses that the club pays out to its players when they win the championship.
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