If other conferences opt out

[jethreauxdawg]

And the NCAA says players can’t sign a liability waiver, the SEC needs to go ahead and announce a 1 year independent league. Go ahead a renegotiation any TV contracts, I’m sure there’s an out clause if we are not part of the NCAA, if we are the only games on TV, we’ll make absurd money. Enough to cover any liability insurance. The NCAA will gladly take us back and I’m sure provide waivers for any athletes to be considered amateurs again if we have to pay them something this year. If not, just maintain our own league as an independent minor league. NCAA football is moving that way anyway.

 

[fishwater99]

And the NCAA says players can’t sign a liability waiver, the SEC needs to go ahead and announce a 1 year independent league. Go ahead a renegotiation any TV contracts, I’m sure there’s an out clause if we are not part of the NCAA, if we are the only games on TV, we’ll make absurd money. Enough to cover any liability insurance. The NCAA will gladly take us back and I’m sure provide waivers for any athletes to be considered amateurs again if we have to pay them something this year. If not, just maintain our own league as an independent minor league. NCAA football is moving that way anyway.

There is no liability insurance available for COVID-19. Season is not happening.

 

[Irondawg]

Sounds like a pretty good business opportunity for some insurance company if they want to take a gamble

 

[mcdawg22]

If I’m a Group of 5 team I’m doing everything I can to play. You can name your price for TV contract. If nobody else plays. I’d be glued to the TV for the prime time Southern Miss-Tulane game. Also how pissed are the networks going to be at the conferences that opt out.

 

[jethreauxdawg]

There is no liability insurance available for COVID-19. Season is not happening.

They write policies for things that are more deadly for athletic 20 year olds than Covid all the time.

 

[GloryDawg]

If the SEC plays football there will be some really pissed off Big 10 fans.

 

[GloryDawg]

Sounds like a pretty good business opportunity for some insurance company if they want to take a gamble

It's like crop insurance. Insurance companies and agents license to sell it make a lot of money.

 

[LTblows]

Are you saying that actuaries cannot financially model insurance rates for COVID?

 

[GloryDawg]

Are you saying that actuaries cannot financially model insurance rates for COVID?

If you insure 100% of people who have less than 0.0009 percent of getting sick from the covid why not? Really good in shape athletes who exercise everyday, who will be tested twice a week and on game day. Hell there is some money to be made.

 

[fishwater99]

They write policies for things that are more deadly for athletic 20 year olds than Covid all the time.

No insurance company will sell a COVID Liability policy. We check for my work already.

 

[GloryDawg]

No insurance company will sell a COVID Liability policy. We check for my work already.

That doesn't mean a Product Development department at some insurance company is working on a plan.

 

[fang]

Well maybe some of those legalized bookies needs to step up and sell some, not like its naked calls or something***

 

[ronpolk]

Are you saying that actuaries cannot financially model insurance rates for COVID?

I’m sure they could but it would probably be way too costly. Who knows what damages could actually be if a judge awards damages to a student athlete who got seriously ill or dies.

No doubt they’d be punitive damages too. The risk, which is small but is known. It won’t be a shock when someone gets covid. There is no well regarded uniform treatment for this new virus. But colleges still would allow players to go in harms way (unpaid players at that) all to make money. I personally don’t believe insurance companies would write a policy for something like that. There is no precedent for an insurance company to determine loss. It’s potentially unlimited.

 

[fishwater99]

I’m sure they could but it would probably be way too costly. Who knows what damages could actually be if a judge awards damages to a student athlete who got seriously ill or dies.

No doubt they’d be punitive damages too. The risk, which is small but is known. It won’t be a shock when someone gets covid. There is no well regarded uniform treatment for this new virus. But colleges still would allow players to go in harms way (unpaid players at that) all to make money. I personally don’t believe insurance companies would write a policy for something like that. There is no precedent for an insurance company to determine loss. It’s potentially unlimited.

^^^This... I just don't think some people are thinking through this. The lawsuits would bankrupt a University.

 

[patdog]

When you have no reliable data to model, it's pretty much impossible to come up with a premium to charge.

 

[GloryDawg]

When you have no reliable data to model, it's pretty much impossible to come up with a premium to charge.

Yeah I guess after 19 million plus confirm cases they would not be able to come up with a model.

 

[ronpolk]

Yeah I guess after 19 million plus confirm cases they would not be able to come up with a model.

Have there been 19 million confirmed lawsuits with damages awarded? Or no damages awarded?

The no reliable data is not about cases or not. It’s about potential liability, to which there is no precedent.

 

[jethreauxdawg]

No insurance company will sell a COVID Liability policy. We check for my work already.

Are you and all of your coworkers athletic 20 year olds living in a semi-controlled environment?

 

[fishwater99]

Are you and all of your coworkers athletic 20 year olds living in a semi-controlled environment?

Maybe you should get the financial backing and sell COVID insurance. Good luck!

 

[jethreauxdawg]

You can buy life insurance right now and rates have not had a bump due to covid. Insurance companies are not panicked and are still open for business.

 

[Col. Forbin]

ISO created a form for coverage back in February or so and never published it to be released. The problem with communicable disease and viruses being insured is having to proved where they actually got the virus from.

 

[RocketDawg]

And extended warranties on anything. They wouldn't sell if not making a profit.

 

[RocketDawg]

Even La-Loyds of London?

 

[fishwater99]

You can buy life insurance right now and rates have not had a bump due to covid. Insurance companies are not panicked and are still open for business.

Life insurance is very different from liability insurance. Wow.

 

[ronpolk]

You can buy life insurance right now and rates have not had a bump due to covid. Insurance companies are not panicked and are still open for business.

I’m not seeing the connection between life insurance and liability.

I also can’t think of an insurance product even similar to something like COVID insurance. How would a company write a policy for something that is almost certain to happen? If college football is played, there will certainly be cases. I guess the wild card is just how severe.

The argument a lawyer is going to make is that universities knowingly put players in harms way with a new virus with no known cure or treatment. There is just no way for a university to create an environment that shields players from the risk of catching the virus. And because of that, I’m afraid that a judge would say that the university acted negligent, which would void any liability waivers that were signed. Richard Schwartz will be advertising one minute and suing is the next.

I want to see college ball and I hope it happens this fall. But everyone needs to go in this eyes wide open. There is an incalculable amount of liability that I can’t imagine can be shifted to an insurance company. An insurance company is not going to write a blank check.

 

[Lawdawg.sixpack]

I’m sure they could but it would probably be way too costly. Who knows what damages could actually be if a judge awards damages to a student athlete who got seriously ill or dies.

No doubt they’d be punitive damages too.

No more than $500,000. And negative on the punitive damages. At least for Mississippi’s public universities.

 

[SirBarksalot]

If the SEC plays football there will be some really pissed off Big 10 fans.

That would be beautiful, if it were to happen.

 

[johnson86-1]

I’m not seeing the connection between life insurance and liability.

I also can’t think of an insurance product even similar to something like COVID insurance. How would a company write a policy for something that is almost certain to happen? If college football is played, there will certainly be cases. I guess the wild card is just how severe.

The argument a lawyer is going to make is that universities knowingly put players in harms way with a new virus with no known cure or treatment. There is just no way for a university to create an environment that shields players from the risk of catching the virus. And because of that, I’m afraid that a judge would say that the university acted negligent, which would void any liability waivers that were signed. Richard Schwartz will be advertising one minute and suing is the next.

I want to see college ball and I hope it happens this fall. But everyone needs to go in this eyes wide open. There is an incalculable amount of liability that I can’t imagine can be shifted to an insurance company. An insurance company is not going to write a blank check.

It’s highly likely the sec won’t see a single football player die. If there are some players with complications, they won’t have a good case to begin with, and there won’t be a lot of them to create a lot of liability. Ignoring the sovereign immunity that public universities likely have, the potential loss isn’t close on an expected basis to the sec tv money.

 

[rem101]

Wimbledon had a pandemic policy that they cashed in on this year. Premiums of approximately $2mil. They had the policy for 17 years. Paid out $141mil. Pretty sure it was a Lloyds policy - not sure who else would write that.

I agree with them not doing a covid specific liability policy though. Pandemic insurance will be a topic to be discussed, especially now that it'll cause E&O issues if not offered, but the majority of businesses won't be able to afford it.

 

[patdog]

Wimbledon made out like bandits on that policy. But hey, they at least shared it with the players. Well, kind of. They paid out 1st round loss money to every player who qualified. $12MM for the players, $129MM for the club.

 

[ronpolk]

It’s highly likely the sec won’t see a single football player die. If there are some players with complications, they won’t have a good case to begin with, and there won’t be a lot of them to create a lot of liability. Ignoring the sovereign immunity that public universities likely have, the potential loss isn’t close on an expected basis to the sec tv money.

I think you’re probably right on all accounts. But I’m not willing to rule out a judge determining gross negligence, which I’m pretty sure would get around sovereign immunity.

I think a court deciding that anywhere in the SEC is not likely. However, I wouldn’t want to have a liberal judge in California, Oregon, Washington or New York rule on this.

 

[johnson86-1]

I think you’re probably right on all accounts. But I’m not willing to rule out a judge determining gross negligence, which I’m pretty sure would get around sovereign immunity.

I think a court deciding that anywhere in the SEC is not likely. However, I wouldn’t want to have a liberal judge in California, Oregon, Washington or New York rule on this.

The SEC is not in California, Oregon, Washington, or New York. There is real risk of litigation and having frivolous but still expensive litigation, but eventually, facts do matter and $10M still goes a long way. This is not asbestos where everybody you employee and even people you didn't are going to be able to make claims against you. Players that have to sue are going to have to show real harm (which will greatly reduce the size of the potential plaintiff pool; just not many college football players are going to have anything beyond flu symptoms) and they have pretty significant legal hurdles to get past to press their case.

I'd say the risk of a large scale lawsuit related to COVID is no greater than the risk of a lawsuit related to CTE. I suspect the CTE lawsuit is much more likely and more risky to the Universities.

 

[johnson86-1]

I’m sure they could but it would probably be way too costly. Who knows what damages could actually be if a judge awards damages to a student athlete who got seriously ill or dies.

No doubt they’d be punitive damages too.

It's almost as certain as you can predict anything in a lawsuit that there wouldn't be punitive damages.

The risk, which is small but is known. It won’t be a shock when someone gets covid. There is no well regarded uniform treatment for this new virus. But colleges still would allow players to go in harms way (unpaid players at that) all to make money.

The players are already in harms way. There's not much incremental risk they are taking, and they would be voluntarily taking it.

I personally don’t believe insurance companies would write a policy for something like that. There is no precedent for an insurance company to determine loss. It’s potentially unlimited.

I would be shocked if insurance companies would not write a policy for something like that. Insurance companies don't write policies for unlimited amounts, so they won't have to be worried about unlimited losses, they just have to worry about the likelihood of loss for the risk they are covering. The universities and the SEC may not like the pricing, but if they go to a market like Lloyds, they can get a policy. The participants in Lloyds may not want to bother with underwriting a policy because they have a general idea of how they would price it and they have a good idea it's beyond what the Universities and/or the SEC is willing to pay. But if you can at least cover game day operations with tickets, you've got $43M of SEC TV money to play with. When most people involved will be employees and subject to employer immunity outside of workers comp, and then the ones that aren't will have extremely low likelihood of serious complications, you can cover a lot of damages and legal fees and still have money left over.