Our services:
- credit insurance
- Financial Loss Liability Insurance
- Health management
- advertising cancellation insurance
- Organizer liability insurance
- Cyber risk
- market value protection
- Sports facility insurance
- Engineering insurance
Additional coverage:
- TV breakdown insurance
- Prize Indemnity – Prize Bonus Insurance
Insurance Coverage for Associations and Clubs
In today's dynamic and demanding sports environment, the right insurance coverage for sports clubs is of essential importance. Sports clubs face a multitude of risks, whether in the areas of liability, property, or the health and safety of members, employees, and athletes. A comprehensive insurance policy is not only financial protection, but also a guarantee for the continuity of sports operations. Given these challenges, finding an insurance solution tailored specifically to the needs and risks of each sports club is a top priority.
Products in Detail
credit insurance
Bad debt insurance for sports clubs protects against payment defaults in the areas of sponsorship, box rentals, and merchandising. It also protects against insolvency administrators reclaiming these funds retroactively for up to 4 years. It is particularly important for clubs that rely on regular income from sponsorship funds to maintain operations. The coverage provides financial planning security, secure accounts receivable management, and improved pre-financing opportunities. Individual consultation helps to find the right solution for the club.
Financial Loss Liability Insurance
Professional sports have long been about more than just victories and trophies; it is a business involving a lot of money. Players are represented, licensing agreements are signed, and sponsorship contracts are negotiated. A complex web of contracts links clubs, associations, player agents, and companies.
With so much business activity, there is always a risk that someone will infringe on another party’s rights. Violations of marketing, licensing, or personal rights can result in substantial claims for damages. In such cases, financial loss liability insurance can help. It limits the insured’s liability risk in the event that business partners file claims for financial losses.
Cyber risk
Cyber risk insurance protects you and your business from the financial consequences of cyberattacks. It covers losses resulting from hacking, data loss, business interruptions, cyber extortion, and other digital threats. The insurance not only protects the IT systems themselves but also covers the associated liability risks.
Cyber risk insurance is an important component of every modern company's risk management strategy. Companies that collect and store customer data, in particular, are exposed to high risk and should take out comprehensive insurance.
Health management
How do you promote health in your company? We offer you a solution that allows you to position yourself as an attractive employer. Your employees receive an annual health budget, allowing them to freely choose exactly what they need right now from a wide range of health services.
Benefits for you as a company:
- Improving Employee Retention and Health
- Social Responsibility
- Strengthening the "People" Factor for Success„
- Expansion of your recruiting concept
market value protection
When soccer fans talk about their idols, they often do so with admiration. The relationship between clubs and their players, on the other hand, is sometimes very matter-of-fact. To the clubs, players are simply assets and economic resources. And like any normal business, the clubs protect their valuable assets.
In sports, market value insurance serves this purpose. It pays out a contractually agreed-upon sum if an athlete is permanently unable to play due to illness or injury. While the loss of a player inevitably weakens a team’s performance, such policies at least allow clubs to limit the financial damage.
However, the insured amount does not have to match the players' actual market value.
advertising cancellation insurance
Nowadays, complex advertising boards are often used, which not only allow multiple sponsors to be displayed alternately, but in some cases also enable animations. However, the more complicated the technology, the more can go wrong. The rotating mechanism can jam or a power outage can paralyze the video display – to the detriment of the sponsors.
Such risks can be covered by advertising loss policies. These are particularly beneficial for advertising agencies that have contractually guaranteed their clients a certain amount of airtime. If they are unable to fulfill this commitment, they face contractual penalties. The insurance company then covers the lost revenue.
Sports facility insurance
Germany has the most modern soccer stadiums in the world. For the clubs that own them, the stadiums are a valuable asset that they must insure against potential damage.
That’s what sports facility insurance is for. It basically works like home insurance—only the amounts involved are different. The policies cover damage caused, for example, by tap water, fires, or storms. Fixtures and fittings in the stadium, such as technical equipment, are also covered. In addition, it’s possible to insure sports facilities against damage caused by terrorist attacks. Many sports facility operators have taken advantage of this option.
Organizer liability insurance
Bundesliga matches are mass events. This is great, because many spectators ensure a good atmosphere in the arenas. However, full stands are also a source of danger. The 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.
Event organizer liability insurance is designed to cover such risks. It protects the club against any claims for damages. This policy is an absolute must for sports event organizers, as the liability risks can be enormous. It’s no coincidence that Bundesliga clubs are required to provide proof of adequate liability insurance as part of the licensing process.
Engineering insurance
The appeal of sports remains unbroken. Steadily rising spectator numbers, sold-out stadiums. Given the high demand and the importance of ticket sales, it is not surprising that clubs repeatedly consider expanding or building new stadiums. Furthermore, newcomers to the top leagues are sometimes only granted their license if they fulfill certain requirements regarding stadium expansion.
However, such large-scale projects would be unthinkable without technical insurance. These policies cover various risks during the construction phase. For example, they reimburse the costs of damage caused by the use of defective materials. Even loss of revenue or additional costs resulting from construction delays can be covered by such policies.
Golf Course Insurance
This is a specialized insurance policy tailored to the needs of golf courses.
It provides protection against a wide range of risks to which golf courses are exposed.
Here are some key points that such insurance should cover:
- PROPERTY INSURANCE
- Liability insurance
VARIOUS COVERAGE EXTENSIONS: SUCH AS MACHINERY (MOWERS, GOLF CART, BALL CLEANING SYSTEMS, ETC.), ELECTRONICS INSURANCE (OFFICE EQUIPMENT), GROUP ACCIDENT INSURANCE (MANAGEMENT AND EMPLOYEES)
It is important for golf course operators to have a comprehensive insurance policy that covers their specific needs and risks. Every golf course is unique, so the insurance policy should be tailored accordingly.
Additional Coverage
TV breakdown insurance
A thunderstorm had caused a power outage at the broadcast center, and the emergency power system failed to function. Such broadcast outages are annoying. They cause frustration among TV viewers, losses for the event organizer, and costs for the club—depending on who bears the financial risk.
TV breakdown insurance policies can be used to cover liability risks. The policies provide coverage in the event of technical malfunctions, for example, if the TV signal cannot be transmitted to a satellite.
Prize Indemnity – Prize Bonus Insurance
It compensates for lost revenue, such as missed sponsorship or television fees, if certain athletic goals are not met. This could include failing to qualify for the Champions League or being relegated, both of which result in financial losses. The probability of an insured event—and thus the premium amount—is determined, among other factors, based on betting odds. Insurance against relegation would therefore cost a team that consistently finishes at the bottom of the standings more than it would cost a team that reliably ranks in the top half of the table.
Such protections also exist for positive outcomes. For example, they can be used to insure the bonuses that the club pays out to its players when they win the championship.
Any questions?
How can we help?
Do you still have questions about LEUE & NILL, our products, or the procedure? You can contact us in various ways!
