Sports Law • Risk Management

5 Ways to Make Sure that Your Sport Organization or Event’s Insurance is in Order

The most important risk financing strategy for your organization is to transfer your risk to insurance carriers. This is done by purchasing insurance for most of the risks that your organization or event faces.

The following 5 tips should be followed to make sure that your insurance is in order:

1. Consult your insurance broker or agent to make sure that your insurance policies are up to date and that you have sufficient insurance coverage.

2. Discuss with your insurance broker or agent about the impact of exclusions in your insurance policies and make sure that you are insured for all exposures that you do not plan on self insuring.
3. Request to be added as a named insured or as an additional insured status to any insurance policy when possible and whenever working within any third party or independent contractor.

4. Verify that concession operators are properly insured and licensed, particularly for any sale of alcohol.

5. Particularly if transportation of the athletes or personnel is needed, consult an insurance agent and an attorney to be sure that proper insurance coverage is in place whether or not the vehicle is leased or owned.

If you find the above tips to be helpful, please check our website for comprehensive tips for your sport, which will be available soon.