Sports Risk Advisor vs. General Insurance Broker

Series 1/3: Why you should choose a Sports Risk Advisor instead of your local General Insurance Broker.

Reason #1: Liability

Sports Insurance is a niche market, with unique insurance needs. When it comes to these unique kinds of coverages not all Insurance Agencies have experience in this specific area and aren’t able to provide you with what you need. This could be for a variety of reasons: They may not have contracts with or access to the Insurance companies & certain Insurance Brokers may only deal with  property insurance or maybe they’ve never come across your type of business before.

What you need to know about liability:

Commercial General Liability (CGL) this is a common coverage that you can get from any Commercial Insurance Broker.
What does this coverage do for you? Commercial General Liability provides coverage for bodily injury & property damage to a third party.

What is a third party? Think spectator at a sporting event or coverage for damages (tenants legal liability) that a hockey team caused to a locker room in a rented facility.

What about coverage for the participants? There is no coverage for participants under a Commercial General Liability Policy.

What is Participant Liability? Simply put, Participant Liability covers the participants while playing.

As Sports Risk Advisors we specialize in Sports Insurance which means that the only types of insurance that we handle is sports related, Sports teams, Sports Associations, Sports Organizations, Sporting goods stores etc., you get the idea.

Stay tuned, Blog #2 in this series will be posted in the following weeks.

-Jenn Bishop