In today’s climate of massive salaries and complex contracts, the case for compulsory professional indemnity (PI) insurance for agents is underscored. Miller’s Billy Warner and Steve Talboys explain how changes in regulation in 2015 have left the current crop of football agents severely exposed.
We work with football players of all levels from young pros to world stars, tailoring cost-effective personal accident and illness insurance that provides long-term financial protection.
Miller’s sports team is arguably the most experienced and influential in the market, looking after hundreds of top-flight players in the UK and overseas. Among our team are former sports professionals who understand your risks, concerns and the challenges you face.
Career ending insurance cover
Whilst the risk of injury and illness may be unavoidable, its financial impact can be significantly mitigated given proper planning and the correct cover.
Triggered by a career ending injury or illness, Miller’s policy pays a tax-free lump sum benefit based on the sum insured which is agreed at inception and usually based on value and length of a player's contract.
Additional benefits include:
- Club and international matches – Coverage protects players anywhere globally, including when away on international duty, on and off the pitch.
- Minimal medical exclusions – We ensure minimal medical exclusions are applied to our clients’ policies.
- 24-month claim notification period – A policy can respond at any point within 24 months of an injury occurring or when an illness manifested itself.
- No rehabilitation clause – Some non-Miller policies include a disadvantageous rehabilitation clause, which stops claims once a player has played a certain number of games after an injury or illness.
- Retraining fund – Up to £25,000 contribution made towards a player’s vocational education training expenses for another occupation.
The importance of cover
A footballer’s contract determines how long their club is obliged to pay their salary after they sustain a serious or career ending injury. This timeframe is governed by a country’s legislation, which varies from one country to another.
If the worst happens to a Premier League or Football League player, their club can terminate their contract and in some cases stop paying their salary after six months. For countries like Spain, Germany and Italy, contract termination is immediate.
Having a personal accident policy can therefore safeguard a player’s financial future should the unthinkable happen.
Football Players’ Personal Accident InsuranceDownload brochure
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Ex-professional footballer Carl Ikeme talks about his career ending insurance claim▶ 2:54
Professional sportspeople rely on their physical faculties being in order and the sudden end of their career can be financially as well as emotionally devastating.
Being called up to represent their country on the world stage is a dream come true for any player. But for the clubs who employ the best of the best, it’s a risky business.