Don’t assume that an athlete’s personal insurance (their general liability from a homeowner’s policy or personal umbrella coverage) or even the league itself will cover a player promoting their celebrity off the field.
It’s important to know that this is NEVER the case, but insurance products are available through select markets to manage the liability exposures that may be present. Commercial general liability insurance is necessary to cover business/professional appearances, such as an autograph signing. Unfortunately, we recently witnessed a case where a child tripped over an athlete’s chair and injured his face. Because of his celebrity and wealth, the athlete was an easy target and the parents brought forth a liability suit.
At Oswald, we protect professional athletes from these types of circumstances by placing commercial general liability coverage for an athlete that will cover not only the athlete themselves but any shell corporation that may be established to handle all the athlete’s business and professional appearances and contracts. If you’re not sure what is covered in your or your client’s policy, simply ask your personal risk advisor to review the coverages currently in place.
Oswald Companies team of personal risk advisors specialize in ensuring that athletes and entertainers have the proper insurance programs in place to protect them against exposures specific to their profession and professional appearances. Oswald’s advisory team serves as resource in collaboration with a client or a client’s business advisor to provide the most economical and creative planning concepts based on their short- and long-term needs and liability exposures.