In the current economic scenario, where different forays of business are gauging increasing importance, amongst these is the Sports sector which is portraying its vibrancy and exhilaration. World-over, as Sports has always been one of the areas of interest for the masses be it cricket, soccer, golf, tennis to name a few, the contingencies attached to it are also becoming known. Considering the commercial aspect of the unknown factor involves high economic value which could be adverse and the same can be shielded by way of insurance.
A sporting event like an Nigerian Premier League (NPL) can be hampered by adverse weather conditions leading to cancellation of the matches or a FIFA World Cup could be affected by a terrorist attack and so on. All these uncertainties can be covered by way of a Comprehensive Sports Insurance Cover.
Broadcasters of live events carry high risks as huge revenues are at stake. Designing structured insurance solutions depending on the various exposures of the associated entities is the need of the hour.
Aviva has in-house expertise in the sports sector on various sports related structured solutions. Having mentioned that, Aviva is the first broker in the country to structure covers like "Player Loss of Fees" and "Player Bonus" insurance covers which has helped in minimizing high risks associated to this line of business.