ProSight is Leading the Way in All-Star Sports Insurance
Insurance coverage for the sports world has so much in common with the Live media space. Just think about it: sports arenas have similar exposures to music venues, and professional athletes make headlines like today’s biggest stars. In fact, our expertise in insuring Live media transfers perfectly to insuring sports—in everything from venues, to professional gaming, to the athletes themselves.
Earlier this year, we launched our Sports segment to cater specifically to this new sports frontier. Here are some answers to your burning questions about what’s “hot” on the ProSight sports desk:
- Why create a Sports insurance segment now?
We saw a need in the industry for experts who understand the unique liability exposures of sports, including the type of commercial coverage needed by athletes in the public eye. In an increasingly social world that melds athletic ability with celebrity status, pro athletes have personas that are larger than life, making them targets for people looking to capitalize on their fame. To provide the best defense, we’ve created the best offense: insurance that’s tailored for athletes in the limelight to help cover their assets and keep their brand protected. Our comprehensive sports insurance coverage includes most of the incidents homeowners’ and auto insurance would cover PLUS additional coverage for the very public lives of athletes.
- What else is covered by the Sports insurance segment?
We insure the spaces and places where athletics and entertainment overlap. Think sports venues, ski and aquatic rentals, motorsports, country clubs, and team training facilities. We also insure actual sports events and competitions, like mud runs and triathlons.
- Who are the people in the Sports segment that we insure?
Basketball and baseball teams, sports associations and league sports, managers of sports venues, athletes and their business managers, sports agents, event promoters—all the movers and shakers who are building sports into the franchise of the future.
- What is the biggest ticket in Sports right now?
One word: esports. Professional gaming, or esports, is a $1 billion business that’s growing by the minute. In the world of esports, international competitors from different leagues face off in the same games that are popular with at-home gamers: Fortnite, League of Legends, Call of Duty, and Madden NFL, to name a few. What’s more, pro gamers are becoming brands unto themselves, watched and followed by millions of fans all over the world who attend live events in stadium-sized venues or tune in online. ProSight has been there since the beginning when we insured the first esports facility—and we’ve been paving the way ever since! As the leader in the egaming space, we understand the unique nature of esports and can help minimize risks for promoters and gamers as the sport continues its explosive growth.
When you turn to ProSight for Sports insurance coverage, you’re getting a proactive team of underwriting specialists, claims experts, and customer reps who understand the various business needs of the sports world. From spectator liability to shell corps, we provide the type of coverage that helps keep sports professionals on top of their game—in 2020 and beyond.
—Kevin Topper, ProSight Customer Segment President, Media & Sports