Texas-based Fairly Group and its sister company, OccuNet, have announced the launch of an insurance product that covers medical expenses for collegiate student athletes who contract COVID-19.
“COVID-19 has taken a toll on every aspect of our lives, including our ability to play and enjoy sports,” said Alex Fairly, CEO of Fairly Group. “We wanted to support collegiate athletes who desire to get back on the field, as well as their parents and the courageous collegiate athletic departments attempting to move forward with fall sports.”
The policy was inspired by the viral #wewanttoplay campaign created by Ohio State quarterback Justin Fields, Fairly Group said. It provides $250,000 in medical coverage for COVID-19 illnesses.
“When the NCAA mandated member schools be responsible for medical expenses related to COVID, we immediately began working on a solution,” said OccuNet president Caleb Fairly. “We hope this brings a level of confidence for students and parents who send their talented young men and women off to play college sports.”
The impetus for developing the product came when the Big Ten and Pac-12 initially postponed their fall 2020 football seasons, Fairly Group said.
“If a student athlete ends up hospitalized due to COVID-19, the financial implications to the university could be substantial and currently, all products which collegiate athletic departments purchase to cover student athletes exclude coverage for communicable disease,” the company said.
Fairly Group is a risk consulting and brokerage firm advising clients in the US and more than 100 other countries in multiple business segments including corporate risk, human capital and benefits, and a broad spectrum of risk consulting specialties.