MLB star obtained arm insurance for playoffs: report

A leading team in the playoffs is winning high-fives, but Canadian brokers are praising its ace for his insurance play

Risk Management News

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As the New York Mets receive high-fives for their performance on the field, brokers are sending accolades to a maverick sports agent for his insurance decisions off of it.
 
This week, it was revealed that Scott Boras scored his client, beloved Mets pitcher Matt Harvey, a “two-tiered” insurance policy weeks after his surgeon recommended that he cease pitching and focus on recovering from a 2013 Tommy John operation, according to CBS Sports.
 
While the coverage has been lauded as a wise investment, certain elements of it remain puzzling to those in the industry.
 
“I don’t think that this is uncommon, but the timing is a little strange considering that it was done at the end of regular season as opposed to right after he had his surgery or after he came back from surgery,” said Joe Rodewald, vice president and general manager of K&K Insurance.
 
Harvey was told at the beginning of the season that he shouldn’t exceed 180 innings of play or he would put his talented right arm into jeopardy. He now totals 202 innings and could be called upon to pitch in Thursday’s match against the Chicago Cubs, if the National League Championship Series continues to a fifth game.
 
Officials would not disclose how much the insurance policy is worth, but Rodewald believes it is probably similar to many of the other products that have been created for celebrity body parts.
 
“I’m sure several pitchers in the major leagues have this kind of policy,” he said. “You see it all the time in Hollywood too, with actors and actresses getting their arms or legs covered and singers getting their vocal chords insured.”
 
Still, Rodewald calls Boras “quite the sports agent,” as insurance is particular critical for the 26 year-old talent. Harvey could be eligible for $200 million if he continues his “brilliant” pitching until his free agency in three years.
 
In the meantime, even though Harvey was provided 12 days or about 20 innings of rest in September, pitching in the playoffs is still considered a substantial risk. And while it was always Harvey’s intention to defy that risk, this policy may give him some peace of mind as he eyes a World Series run.
 
"There's an obligation - I should say mandate - to pitch,” Boras said. “There's an obligation to the integrity of the game, to his teammates and the fans.”

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