The $3,000,000 Knee Loss-of-Value Insurance Policy

The $3,000,000 Knee Loss-of-Value Insurance Policy

The NCAA defines Loss of Value insurance as “insurance that protects a student-athlete’s future contract value from decreasing below a predetermined amount due to a significant injury or illness suffered during the policy’s designated coverage period.” University of Michigan tight end Jake Butt took the high road by playing in the Orange Bowl, but he paid the price for his commitment to his school – and cost himself an early-round position in the NFL draft…

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Benjamin Franklin: Founding Father of Insurance

Benjamin Franklin: Founding Father of Insurance

In 1730, after a fire destroyed most of Philadelphia, Benjamin Franklin established the first fire department called the Union Fire Company, an organized effort that consisted of more than a few buckets. He was disappointed in the consumer’s lack of prevention, suggesting that homeowners should be more efficient when it came to constructing shallow hearths. He advised them to clean their chimneys more frequently and that chimney sweeps should be licensed. “An ounce of prevention…

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Carrie Fisher’s Death Cost Insurance Companies $50 Million

Carrie Fisher’s Death Cost Insurance Companies $50 Million

Lloyd’s of London and Exceptional Risk Advisors will write a huge check to Disney While Carrie Fisher’s death saddened her fans around the world, it also brought tears to the eyes of insurance executives who wrote a policy to Disney to cover their potential losses in the event Fisher couldn’t fulfill her three movie deal with the company. Disney will cash in to the tune of $50 million as a result of the untimely demise of…

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