It’s their prerogative after all.
Red Sox president Sam Kennedy told local media that the Red Sox as a rule does not take out insurance for its team members, especially its high performing players, because the cost to cover the risk is not in line with the benefits they get.
Speaking with local media outlet CSNNE, Kennedy said that “The cost benefit usually isn’t there. It’s incredibly expensive. And (there are) certain things that have to trigger the payment vis-à-vis the player when they get hurt. So, it typically doesn’t make sense.”
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He went on to say, “On some occasions it does, but it’s usually too costly and clubs don’t often insure big contracts because it’s hard to recoup (the cost) based on how many days the guys are on the (disabled list)…”
Kennedy also said he believes taking out insurance policies is like gambling because the coverage is based on statistical probability.
“It’s like walking into a casino and saying, well, how did they build this place? Well, they didn’t build it with your winnings. It’s something that we don’t have a policy either against it or for it, but we’ve looked at it in just about every case and most times we walk away,” he added in the CSNNE report.
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