Sports Insurance & Risk Management

Organising successful sporting events demands pinpoint planning and an in-depth understanding of the potential risks they carry. JLT has the expertise and experience to identify and manage these risks, and to create insurance programmes that respond when required.

From event cancellation, broadcast disruption and third-party liability risks to cyber, travel and crime exposures, a tailored insurance programme will protect you, your competitors and your audiences.

Our sports team aims to make insurance for the sports industry simple. We provide our clients with a range of specialist sports insurances, whether you’re into organising events, a governing body or a professional sports club.

We pride ourselves in finding solutions which mitigate your exposure to risk in sport and help your business run more smoothly.

WHAT WE DO

Sports

Our dedicated team of sports insurance practitioners combine years of knowledge and industry experience, with the latest technology, to deliver world class service solutions. Our wide range of experience in this field has seen our team evolve into specialists. We design, develop and implement insurance, risk solutions and risk management programmes for sporting events.

Our hands-on approach to the risk management process ensures we focus on the critical area of risk management programmes’ implementation. Often, a key area neglected or overlooked.

Sports

We offer an online training system, which interacts with your sport to provide practical risk management training modules in issues including: public safety, volunteer screening, child protection, discrimination, venue and event management.

Working in partnership with you, we can also identify your major business exposures by conducting a series of interactive workshops. This focus involves participants from all levels within your sport to ensure a complete assessment of the various risks and exposures.

We design solutions in conjunction with workshop participants, which are financially viable and practical in implementation.

FAQs

We have a particular focus on international federations (IF) and have a range of products specifically designed to cover the insurable risks arising out of an IF’s activities.

Such risks may include:

  • Doping
  • Employee taken ill abroad
  • Injury to spectators at World Championships
  • Legal action
  • Athlete injury during World Championships
  • Injury to spectators at World Championships
  • Event postponement
  • Disputed decision
  • Event relocation
  • Local organiser not adequately insured
  • Committees and working commissions
  • Event cancellation
  • Accident / illness of president
  • Membership decisions
  • Website hacked
  • Judges and officials
  • Kidnap

FEDERATION LIABILITY

This policy is designed to cover the Federations legal liability for damages and any defence costs made against the Federation or its employees, office holders, officials, or other administrator of the rules of the Federation arising out of:

  • Errors and omissions – Any negligent error or omission on the part of the Federation
  • Directors’ and Officers’ – Any wrongful act committed by any office holder
  • Public liability – Bodily injury or damage caused in connection with the business
  • Product liability – Bodily injury or damage caused by or in connection with a product
  • Internet liability – Internet transmissions by the insured

GROUP TRAVEL

JLT can provide a travel insurance policy specifically for sports governing bodies to cover those individuals who travel on their behalf to carry out the business of the federation.

  • Medical and emergency expenses
  • Trip cancellation or curtailment/delay
  • Delayed departure and hi-jack personal accident
  • Loss/damage to personal effects
  • Loss of money
  • Personal liability

EVENT CANCELLATION

All International Federation have major events which if circumstances arose whereby the event was unable to proceed as planned, it could significantly affect their financial situation without the necessary cover in place.

  • Cancellation, abandonment, curtailment, postponement or relocation
  • Any cause outside of your control

EVENT LIABILITY

The majority of Federations delegate the organisation of their major events to a National Association or appointed City. It is the responsibility of the organiser to effect the necessary insurance protection but the IF cannot always be sure that this is taking place. We can provide insurance products that can assist the IF in this process and ensure that both the IF and the local organiser are adequately protected.

EVENT MEDICAL EXPENSES

As a condition for attending, event organisers will often require participants to possess adequate travel medical expenses insurance. A number of International Federations also make this requirement when issuing a competition licence. Often, there is concern that attendees cannot or do not meet these requirements. This has meant that the International Federation or event organiser bears the cost of medical expenses incurred by a competitor injured or falling ill at the event. We can provide insurance products that can assist the IF in this process and ensure that both the IF and the local organiser are adequately protected.

CYBER

Cyber insurance protects against third party risks associated with e-business, the internet, computer networks and confidential information. Whilst the historical focus of these policies has been centred on potential hacking risks, the risks have evolved and insurance can provide cover for the threats outlined above including:

  • Malicious acts
  • Negligent acts of employees
  • System malfunction
  • Data theft

CRIME

Increasingly IF’s financial dealings are online or via internet banking. Consequently IFs face a potential loss of money due to hacking, fraud, social engineering or employee theft.

This could be anything from power failure, damage to venue, earthquake, terrorism, accident/illness, SARS/aviation, national mourning, denial of access, strikes/riots, ash cloud, public transport failure to extreme weather.

Despite the most meticulous organisation circumstances may arise which could stop your event from proceeding as planned. This is likely to have a significant effect on your financial loss or outlay on costs and expenses through event cancellation.

In addition to your own costs you also need to pay particular attention to potential financial loss which may arise out of contractual relationships with sponsors or through loss of costs, expenses and guarantees which are not recoverable such as commitments to hotels, venues, caterers or other service providers.

Over the years we have often referred to this insurance as a ‘sleep easy’ policy as any loss of income arising from a major event due to an insured peril could cause significant loss of revenue to an International Federation (IF).

Commonly it is the unexpected peril that causes the financial loss.

The dynamics of this insurance must be totally understood by the broker handling this insurance as it is often offered in a loss.

WHY JLT

  • The members of our team have exceptional sports experience. We have provided advice to the world’s leading sports associations and event organisers, including:
    • Summer & Winter Olympic Games
    • Commonwealth & Asian Games
    • Grand Slam Tennis Events
    • Major Golf Championships
    • World Cups, including Football, Cricket and Rugby
    • Major International and National Sporting Associations
  • We do not outsource claims management. Our claims team are based in our offices, working side by side with our broking specialists and are available to advise our clients whenever needed. This means you always deal with people who understand you and your business which is useful at the best of times but essential in the event of a claim
  • Our strong relationships to the right insurers in the market, dealing with them every day, means that we can leverage not only the price but also the coverage
  • You can feel comfortable to call us, at any time of the day or night. We will deal with your query immediately. A quick and proactive response when claims occur to get speedy settlements.

Case Studies

Sports

Medical expenses in the region of $1mn

An Australian VIP guest was taken ill and was in a life and death situation in a US hospital for some months. He was eventually recovered sufficiently to be repatriated by special air ambulance back to Australia. The international federation incurred all of the medical/repatriation costs. These amounted to approximately USD 1 million. Due to the quick response from JLT, the international federation were instantly informed that the insurance would respond to this situation. This reassured the federation that the patient was in good hands and that their finances wouldn’t take a major hit.

Sports

Defence costs in the region of $20,000

A competitor took out travel insurance for the period of the championships in which he was competing. He was injured during training prior to the commencement of the event, and therefore was uninsured. JLT recognised the gap in cover and suggested a contingent medical expense cover to the client. This led to insurers agreeing indemnity, and the federation were able to claim back the costs of approximately USD 20,000.

Insurance Solutions

We offer expertise in the following insurance product lines:

When conducting your activities you are deemed to hold a duty of are to third parties. Any alleged breach of that duty may result in a claim for damages. We can provide a liability insurance product for clients in the sporting sector to protect you against your potential legal liability.

This product can cover accidents that have resulted in some form of serious injury or permanent disability.

Travel is a significant factor in the sports world due to its international breadth which therefore means travel insurance is key.

As a condition for attending an event, organisers will often require participants to possess adequate travel medical expenses insurance.

This product covers sports facilities and promoters who organise sporting events. If the sports event has to be cancelled or abandoned for any reason, it can be very expensive for the organisers. Cancellation and abandonment insurance covers these expenses.

A broadcast transmission failure could arise and stop your event from proceeding as planned. This is likely to have significant effect on your financial situation and you may need to recover your financial loss.

Cyber insurance has been developed to address the first and third-party risks associated with e-business, the internet, computer networks and confidential information. Whilst the historical focus of these policies has been centred on potential hacking risks, the risks have evolved and insurance can provide cover for these threats including malicious acts, system malfunction, negligent acts of employees and data theft.

Crime insurance policies are designed to provide financial protection to the company balance sheet from the consequences of employee dishonesty and third party fraud.

Sports equipment insurance policies protect against any financial risks from the consequence of theft, breakdown of equipment or accidental damage.

Kidnap and ransom protects against the risk of kidnap for ransom, extortion, wrongful detention and hijack.

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