Insurance

[larrycorowa]

Are players able to get normal permanent disability insurance? Insurance companies are in the business of assessing and pricing risk and surely there would be a company that would take on this risk. I bet soccer clubs insure their players.

The fund the NRL is talking about is a form of self insurance. It could work out cheaper than the players getting their own individual insurance by compelling every player to contribute as it spreads the risk.

But some of these guys are getting massive money and it just seem unreal that they dont seek some form of insurance for themselves. Even touch football and other organised sport have compulsory insurance these days.

 

[happy_tiger]

There is an article on NRL com in regards to insurance and how they are almost ready with a package for the players in the future

 

[innsaneink]

http://www.abc.net.au/news/2014-07-24/nrl-player-insurance-payouts-set-to-double-under-proposed-new-s/5621194

NRL player insurance payouts set to double under proposed new scheme put before Players' Association

Updated 5 hours 32 minutes ago
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NRL players who suffer career-ending injuries will be eligible for payouts of up to $1 million under a newly-proposed temporary insurance scheme.

The planned policy, unanimously supported by the league and all 16 clubs, doubles the current amount of $500,000.

The payout will apply to the most serious injuries, including paraplegia, quadriplegia, loss of sight and the loss of the use of a limb which end a player's career.

It will cover the top 25 contracted NRL players in each club, 24-hours a day, seven days a week.

The interim scheme is currently under consideration by the Rugby League Players' Association, and will operate through to March next year while a new whole-of-game policy is developed.

Everyone in the game has been working to develop an insurance scheme which looks after the welfare of our players.
NRL chief executive Dave Smith

The NRL's player insurance policy has come under scrutiny since it was revealed that Newcastle forward Alex McKinnon, who suffered a serious spinal injury in March, would recieve a less-than-sufficient compensation payment from the NRL.

McKinnon suffered the injury after a lifting tackle in the Knights' round-three clash with Melbourne.

While more than $1.1 million was raised for the Newcastle forward from the Rise For Alex round, it was reported he would have received a greater insurance payout than what is offered by rival football codes.

"Everyone in the game has been working together for some months to develop an insurance scheme which looks after the welfare of our players," NRL chief executive Dave Smith said on Thursday.

"Obviously players will always be able to take their own insurance to protect their income in the event of a serious injury.

"But it is also important that the game has its own scheme and the players, clubs and NRL are working towards that."

Smith said the league was also planning to set up a foundation to assist players who suffer catastrophic injuries.

South Sydney boss Shane Richardson backed the proposal on behalf of the clubs.

"The clubs and the NRL recognise the importance of the improved insurance arrangements and support the proposal that was put to the Players Association for their members' review," he said.

AAP/ABC

 

[larrycorowa]

Clubs need to make a current permanent disability insurance policy a pre-condition of a contract. Most of these cover up to $500,000, the NRL scheme can supplement this. We are not talking about a huge contribution vs salary and this is stock standard practice for a lot of professions (it was a pre-condition of my business loan with the bank).

Can't believe the boof-heads running our clubs, player agents and players haven't worked this out FFS. Its not as if they are in a cushy office job.

 

[Tiger_Watto]

I tend to agree Larry… While not taking anything away from Simon and Alex, I have always thought the Players are crazy for not having there own Insurance.

Even Beyoncé has insured her Legs?!

 

[Cultured_Bogan]

The NRL going forward need to make income protection and medical insurance a mandatory requirement for the ratification of playing contracts.

I'd suggest in the interim for all contracts currently in progress (they wouldn't be able to retrospectively implement it without it causing problems with the RLPA,) a fund be set up in the event that another Dwyer or McKinnon-esque injury occurred.

 

[Juro]

They say that the premiums would be crippling, but to me, this cover is essential. Even if players had to give up a quarter of their pay, at least they would be protected. Going without insurance is lunacy for a sport where players put their bodies on the line.

 

[Gray]

The Dailytelegraph had an article today about the same issue and had Dwyer as the photo to go with it.

He was none too impressed, putting up on his facebook "Mmm… Don't know why I'm pictured here I got nothing."
Something definitely needs to be done about the issue. Its a factor which really brings makes the NRL look amateur without any insurance for players.

 

[Cultured_Bogan]

They say that the premiums would be crippling, but to me, this cover is essential. Even if players had to give up a quarter of their pay, at least they would be protected. Going without insurance is lunacy for a sport where players put their bodies on the line.

Why couldn't an insurance agency strike up a deal where they refund a percentage of the premiums year on year if they don't claim?