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Agents have cheaper option for malpractice insurance

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As the site has become more mainstream, we’ve gotten away from some of the stories that focus on the intricacies of the football business.

And that’s the best excuse we can provide for boring 99 percent of you with a story that focuses on the intricacies of the football business.

The NFLPA requires agents to purchase malpractice insurance.  Previously, the agents were required to purchase only the insurance offered by the NFLPA.  Now, alternative insurance can be purchased, if it meets the requirements of the NFLPA.

A source with knowledge of the situation has informed us that Chubb has an identical policy with a 20-percent lower premium than the insurance provided via the NFLPA.  Per the source, the NFLPA has declined to provide agent contact information to Chubb.

In lieu of posting the name and phone number of the person through whom the insurance can be purchased here, I’ll reluctantly invite any interested agent to contact me via email, and I’ll give you the info.

For the cynics in the group, we’re not getting paid a dime for this, and we have no financial stake in the insurance company or the transaction.  It just doesn’t make sense for the agents to have to overspend for their malpractice insurance, and if the NFLPA won’t help the agents take advantage of a cheaper option, then someone needs to facilitate the process.  Since all of the agents read PFT, this is the easiest way to get the word out.

Obviously, we make no representations about the quality of the insurance or whether it meets the NFLPA’s requirements.  That’s for the agents to figure out when they review the policy.

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8 Responses to “Agents have cheaper option for malpractice insurance”
  1. ironhawk says: Sep 15, 2011 1:17 PM

    I was going to ask why the NFLPA cares whether or not agents have malpractice insurance, but it suddenly occurs to me that is probably to ensure the agent has the money to pay whichever player is suing them.

  2. kevinfromphilly says: Sep 15, 2011 1:21 PM

    What, did Comcast just buy Chubb too?

  3. jw731 says: Sep 15, 2011 1:32 PM

    The teams should have……Mal”content” insurance, in case they give Haynesworth 100 million or something…

  4. waitingguilty says: Sep 15, 2011 1:45 PM

    If only teams could only buy malpractice insurance for front office/GM types.

    An underwriter’s view as compared to insuring actors on movie sets:

    Bill Pollian = Tom Hanks

    Vinny Cerrato = Gary Busey

  5. depotnator says: Sep 15, 2011 2:03 PM

    “Since all of the agents read PFT, this is the easiest way to get the word out.”

    Exactly why would agents read second hand info?

  6. CKL says: Sep 15, 2011 2:11 PM

    You mean the NFLPA is “greedy and cares only about making money” (either kickbacks or straight commissions)off THEIR policy instead of protecting the players the best they could? Whoda thunk it?

  7. jefftberg says: Sep 15, 2011 2:56 PM

    I can get “news” from any of a number of sources. PLEASE keep these types of articles coming. If someone whines, they can skip the article; or perhaps you can create a separate feed of off the field content.

  8. ntr0py says: Sep 15, 2011 2:56 PM

    “You mean the NFLPA is “greedy and cares only about making money” (either kickbacks or straight commissions)off THEIR policy instead of protecting the players the best they could? Whoda thunk it?”

    Uh, NO. The NFLPA has CHANGED its policy to permit agents to purchase insurance from other carriers.

    If the NFLPA wanted to force agents to get insurance through them, they would not have changed the rules.

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