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Ryan Mason - Hull - Insurance Pay Out


Davefevs

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That scar is horrific , just goes to show how dangerous a simple game can be. Glad he's found a new role, must have been a worry.
As for Hull, that payout seems pathetic, it would be interesting to know what the premiums were. I guess it's a risk Vs the chance of a career ending early, but in this day and age it seems paltry .

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10 minutes ago, 1960maaan said:

That scar is horrific , just goes to show how dangerous a simple game can be. Glad he's found a new role, must have been a worry.
As for Hull, that payout seems pathetic, it would be interesting to know what the premiums were. I guess it's a risk Vs the chance of a career ending early, but in this day and age it seems paltry .

I would with the Bosman ruling, the perceived value of a player drops daily as their contract reaches a closer point of cessation, so a bit like a Dutch auction, finding an underwriter for such a policy must be a rather specialist market.

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52 minutes ago, CyderInACan said:

It says it was a basic insurance package. I wonder wether they could’ve got a better level of cover had they paid more, if that kind of option exists? I wonder what the player himself gets, separately? Sad but sounds like has now got a great job still in the game. 

Presume like anyone else the player could take out hs own cover.  No compensation for him because he would have had a good career I think but still.. 

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10 minutes ago, Loon plage said:

Presume like anyone else the player could take out hs own cover.  No compensation for him because he would have had a good career I think but still.. 

Even clubs at grass roots level have to take out insurance to cover both the club & the player & players are informed that they have the option to take out further cover in the way of ‘personal injuries’ but at a cost that the player has to cover.

Most clubs will normally cover the original insurance policy by getting players to pay signing on fees & the likes.

As for a professional, I would assume that this scenario is something that the PFA would be there for?

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1 hour ago, 1960maaan said:

As for Hull, that payout seems pathetic, it would be interesting to know what the premiums were. I guess it's a risk Vs the chance of a career ending early, but in this day and age it seems paltry .

 

1 hour ago, Bristol Rob said:

I would with the Bosman ruling, the perceived value of a player drops daily as their contract reaches a closer point of cessation, so a bit like a Dutch auction, finding an underwriter for such a policy must be a rather specialist market.

The market is, indeed, specialised, but it exists and is freely available (through specialist brokers), although, depending on the cover required, it can be (relatively) expensive.

When reading such articles in local or regional newspapers, however, I wouldn't pay too much heed to their terminology - 'a basic policy' - nor to their level of technical expertise nor, indeed, to the figures quoted.

It is possible for football clubs to insure their players for whatever amount they want (subject to an insurable interest and Underwriters' approval), but, as in many fields, clubs often seek to economise.

It would have been possible and, indeed, may well have been the case in this instance, for Hull to have insured their asset (Ryan Mason) on a sliding, decreasing scale, reducing from the initial transfer fee of £13M to zero at the end of his contract - think repayment mortgages - but, if the article is accurate, it would seem that Hull chose the cheapest 'basic' policy.

What is most important, however, is the policy taken out by Ryan Mason for, on almost every count, he is the victim here.

In a market where 'experts' are able to insure such diverse things as their vocal chords and sense of smell, I hope that Ryan Mason received professional advice and insured himself suitably. 

   

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3 hours ago, Loon plage said:

Presume like anyone else the player could take out hs own cover.  No compensation for him because he would have had a good career I think but still.. 

So he has a career ending injury, affecting his future ability to earn money. It has likely affected his health and according to you he's not entitled to any compo because he's had a good career? Not quite sure compensation works like that.

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2 hours ago, Up The City! said:

So he has a career ending injury, affecting his future ability to earn money. It has likely affected his health and according to you he's not entitled to any compo because he's had a good career? Not quite sure compensation works like that.

He's not entitled to any compo because he's had a good career?

I am not sure @Loon plage actually said that, so it is possible you have 'misunderstood' his post.

Hull, as has been mentioned, are apparently due to receive an insurance settlement of £1M, which will go some way to 'compensating' them for their financial loss.

Ryan Mason, assuming he had arranged suitable insurance cover, will also receive a financial payment, 'compensation' if you like, due to his career ending injury.  

My reading of LP's post was that, whilst RM will most likely receive a large sum of money as a result of his injury, this will not be any compensation to him for the loss of his health and career, i.e. money isn't everything. 

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4 hours ago, Up The City! said:

So he has a career ending injury, affecting his future ability to earn money. It has likely affected his health and according to you he's not entitled to any compo because he's had a good career? Not quite sure compensation works like that.

Read it again. 

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6 hours ago, PHILINFRANCE said:

He's not entitled to any compo because he's had a good career?

I am not sure @Loon plage actually said that, so it is possible you have 'misunderstood' his post.

Hull, as has been mentioned, are apparently due to receive an insurance settlement of £1M, which will go some way to 'compensating' them for their financial loss.

Ryan Mason, assuming he had arranged suitable insurance cover, will also receive a financial payment, 'compensation' if you like, due to his career ending injury.  

My reading of LP's post was that, whilst RM will most likely receive a large sum of money as a result of his injury, this will not be any compensation to him for the loss of his health and career, i.e. money isn't everything. 

Thanks Phil. I don't actually see any posts from that **** wit because I have blocked him but you have of course nailed it. The "no compensation" I referred to was exactly as you read it. 

Anyone, in any well paid job should financially  provide for the future because they can, but it in no way compares with the premature loss of a way of life.

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On ‎16‎/‎10‎/‎2019 at 19:51, Davefevs said:

@Coppello any thoughts?

Dave, I'd imagine they may have a policy which covers loss of life or career ending injuries. From memory, I know there is a squad value insurance which is common for every club but I haven't delved into the policy. I'd envisaged this to cover a serious crisis to the whole team but it sounds like this could be a policy that covers this. I know this differs significantly from a short-term injury cover policy which few clubs hold given how expensive the premium would be.  

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