Insuring Against A Drop In An Athlete's Draft Position
Law360, New York ( May 15, 2014, 7:10 PM EDT) -- The 2014 National Football League draft ended on May 10, and as sports pundits filed away their 2014 mock drafts to begin working on their 2015 projections, a new trend emerged — college athletes making insurance claims under policies they secured to guard against drop in their draft status because of an injury or injuries they suffered in college. Several high-profile athletes in this year's draft secured "loss of value" disability insurance policies, which are designed to protect against just such a contingency. These specialized policies provide coverage for the gap between the estimated value of what the athlete's initial professional contract could or should have been but for the injury or injuries they suffered and the actual value of the contract they ultimately sign....
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