FIBA Europe Insures Players For 50 Million Euros

19 January 2007

More than half of FIBA Europe’s national federations have signed up to participate in a group insurance scheme which covers senior men’s and women’s European based national team players during the summer period.

The insurance policy, of which the individual player’s clubs are the beneficiaries, covers more than 50 million euros worth of salaries.

If a player is injured whilst playing for the national team, the policy will cover the player’s salary with his or her respective club.

“According to FIBA Europe regulations, all national federations are obliged to insure their players over the summer period,” explained Secretary General Nar Zanolin.

“We have such a large number of players representing their national teams that we were able to negotiate a group policy with a single insurer that gives the federations very low premiums.”

“The feedback from the federations has been fantastic. There are a few federations that have their own insurance policies for the players, but we are hoping they will come on board for 2007.”

Germany is one of the countries that uses the policy to cover its men's and women's national team players.

"We are really happy that FIBA Europe was able to negotiate such a low rate for the insurance policy and it is a big help to our federation and budget," said German Federation President Ingo Weiss.

"We take the health of our players very seriously and we want to make sure that they are taken care of when they represent their country. The policy is a comprehensive one and really ensures that the clubs don't need to worry about their players in the off season," added Weiss.

The policy is valid from 15th June to 30th September every year and covers all players in the event of injury or disease. In addition, the policy pays out until the player has fully recovered from any injury and is able to return to the court.

“Our goal is that all national federations join the policy because that will reduce our price further which will obviously benefit everyone,” added Zanolin.

“However, the main aim is that all players are insured when they play for their national teams. In 2006 those federations that did not sign up for the group policy all provided evidence of their own insurance policies for their players. That means we have reached our target and all players and clubs are covered.”

 


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