These days, when it comes to disability insurance, a team requires
many levels of protection. Many players will get Temporary Total
Disability and Permanent Total Disability protection as part of
their benefits package, while the rest of the team may follow a
separate game plan. The strategy includes self-insurance as part
of the team's roster of coverages. Why? When a team self-insures,
its costs are related directly to the number of injuries during
the year. The lower the number, the lower the team's expenses. But
what happens if there is a disastrous season--one that ends up with
numerous players out of action but still on the payroll?
HCC Specialty Underwriters has created a sports specific disability stop loss product
for just this scenario, Team Stop Loss coverage. When the total
amount of claims exceeds a pre-specified amount, HCCSU Team Stop Loss
coverage takes over. For teams that self-insure, it's one way to
make sure what happens to players on or off the field doesn't put
the entire team out of the game. |
