PRIZE INDEMNITY

This type of insurance covers the contractual (and therefore financial) commitments of a company if the sports or commercial performance defined under the policy was to materialize.

Examples:
- The players of a football team are offered a bonus by their club when they achieve a performance fixed beforehand by contract : example : win their league, qualify for European Cup, remain in the same division…

A professional football club can make the most of their budget by transforming part of it in an insurance premium ; this enables the club to offer more to its players if they achieve on the field what was aimed for by the club.

- The sponsor of a tennis player allows a bonus to his player depending on his results in predefined tournaments or dependant on the ATP rankings.

The obvious advantage is that the sponsor fixes his budget at the beginning of the contract (by paying an insurance premium) and this budget remains fixed, irrespective of the - good - results of his player.

- In the early '90's, Nelson Piquet agreed to race with Formula 1 team Benetton against payment of a salary linked to the number of World Championship points scored
- Benetton took an insurance against the 'risk' that Piquet would score 'too many' points… Both Piquet and Benetton did very well that year…

- The tournament organisers promised to offer the racket to the first player who would win the tournament 3 times in 5 years. The organisers took an insurance against this risk. The Antwerp ECC tennis tournament trophy was a tennis racket made of gold and diamonds. Ivan Lendl won the racket…
- It is most usual for an athlete to capitalize on his performances and ask meeting organizers for a prize in case the World Record is broken during the meeting - the organiser will generally subscribe to an insurance contract to cover the financial risk linked to the world record being broken.


PERSONAL ACCIDENT

Covers the risk of accidental death or disablement (total or partial, permanent or temporary) - coverage applies worldwide on 24 hour basis. This insurance may also be extended to temporary disablement following illness.

The purpose is to cover the salary / contractual expenses linked to the (short) career of high level sportsmen and women.

Any sportsman can have his career interrupted - temporarily or permanently - following an accident ; the interest of insuring the loss of revenue linked to an accident is crystal clear.

Example:
- The career of F1 pilot Didier Pironi was interrupted following his accident at Hockenheim, and indemnity was paid.
- A sponsor or a Club pays its players including when they are disabled due to an injury or illness
- The sponsor and the club will often wish to cover themselves against the risk of disablement of their player.

EVENTS CANCELLATION & ADVERSE WEATHER
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CREATIVENESS : INSURANCE AS POWERFUL FINANCIAL LEVER

A subtle 'mix' of the insurance products we handle serve our creativeness, which we are proud to offer you.

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