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[Cricket]

2 hours ago, Le Tigre said:

I have always found professional athlete personal injury insurance fascinating. I wish I had happenstance to become involved in cases involving this area, but unfortunately not. 

 

With that said, and without actually seeing a policy or its language, I am curious as to instances where "specialist insurance companies are known for being extremely reluctant to pay out loss of values polices" 

 

Insurance policy limits are set to a max amount. Trevor Lawrence bought a policy for himself for $5million during his last season in Clemson as safeguard in the event of injury. He likely could not get a higher limit--as it was for certain he was going to make quantumly more once drafted. It's a business of risk, so perhaps to get higher limits would cost a lot more...or no company wished to take on the risk. Dunno.  

 

 

Curious, any idea of what the cost was for that $5million policy?    

[sparky151]

I think the premiums are in the 10-20% of the payout range per year. It probably depends on the position played and prior medical history. At one point I think the NCAA offered policies for college stars to encourage them to stay in school and so they could set group rates. That was after an insurance company disputed a seemingly clear cut injury payout. A player doesn't need a permanent limp to lose his status as a top prospect. Going for 4.4 to 4.6 might do it.

[Le Tigre]

4 hours ago, Cricket said:

Curious, any idea of what the cost was for that $5million policy?    

Guess it varies. And since insurance is a pooling of premiums from a lot of policy holders, the rating of a risk depends on the risk. Found this sort of a simple overview of the question: 

 

https://www.trustedchoice.com/insurance-articles/opinion-variety/loss-of-value-insurance/