Injury insurance...?
Apologies for the double post, but I just put this on the morning thread then saw that a game thread was up, and it seems like a reasonable topic/question for a diary.
Does anyone know what sort of insurance teams usually have on their high $$ players? I vaguely remember an insurance-related issue with Bagwell a couple years ago, where whether or not Houston could recover any of his salary for the year (from the insurance company, not him) depended on if/how much he played in spring training.
Taking Carp's example, it looks quite possible that he's done for this year, and maybe 2008 as well. Do the Cards have an insurance policy on him? Can we recover anything if he only pitches one regular season game this year? Can we recover anything if he doesn't pitch at all next year?
0 recs |
5
comments
Comments
Here's the quote about injury insurance:
by nycardfan on Jul 18, 2007 6:18 PM EDT 0 recs
He also went on to say
by OCCardsFan on
Jul 18, 2007 6:30 PM EDT
up
0 recs
IIRC
by Elle on Jul 18, 2007 6:32 PM EDT 0 recs
Insurance policies on players
The real hitch is that the player usually must be deemed "totally disabled," under a def. that usually favors the insurance company, and insurance company docs usually have the final say in this sort of thing. Finally, "totally disabled" usually means "permanently disabled", but not always. (I believe this was the case with the Astros policy on Bagwell.)
Regarding Bagwell, I know that the Astros sued CIGNA - the insurance carrier - for breach of contract and eventually settled for an undisclosed sum. However, if memory serves, one of the complications in that matter was that Bagwell would not agree that he was totally disabled. Made it very tricky for the 'Stros to file a successful claim with their carrier when Bagwell was commenting to the media that he hoped to play still.
Just to give you an idea of the numbers involved, Bagwell's salary for 2006 was $17 m., and the Astros were looking to recoup $15.6 m. of that from CIGNA. Their policy premium for this coverage was $2.4 m., although I'm not sure if this was over several years or just the premium for 2006.
by ChiTown CardFan on Jul 19, 2007 2:25 PM EDT 0 recs
Thanks for all this info, ChiTown
It'll be very interesting to see how much if anything the Cards get back for Carp's 2007/2008 salary, and how that affects their offseason moves.
by BTown Birds fan on
Jul 20, 2007 11:31 AM EDT
up
0 recs










