The AIG Companies have announced the launch of “AIG Sports Risk Solutions(SM),” described as “a comprehensive insurance program designed for youth and adult amateur athletic organizations that provide organized sporting events in the United States.”
AIG said its “Sports Risk Solutions combines several insurance products into a consolidated offering, including: General liability, Sexual Misconduct liability, Accidental Death and Dismemberment (AD&D), Participant Accident coverage and Directors and Officers (D&O) liability coverage. From this array of coverages, insureds can select the insurance solution that best meets the needs of their specific athletic association.”
The bulletin noted that “more than 10 million sports injuries occur each year.” It said the program is designed “as a means to mitigate these risks,” and added that it “can insure amateur athletic groups against basic safety hazards, as well as more unconventional risks such as verbal harassment and sexual molestation.”
“Amateur athletics involve a great deal of risk both on the playing field and off,” stated Kevin Kelley, Chairman and CEO of Lexington Insurance Company. “Through the breadth and depth of insurance products in the AIG Sports Risk Solutions program, amateur athletic organizations can manage a wide range of risks under a single plan.”
General limits of liability are $1 million for each occurrence and $3 million aggregate, and insure against bodily injury, property damage and personal injury arising out of sponsored activities. D&O liability coverage, which protects the personal assets of board members as well as executives at risk for personal liabilities associated with their service to the sports organization, has limits up to $5 million.
For more information about AIG Sports Risk Solutions, please contact Terri Clark at 415.836.7251 or e-mail Sports@aig.com.
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