SiriusPoint And Sutton Launch SportsSecure
SiriusPoint and Sutton Special Risk have launched SportsSecure, a specialized insurance solution designed to help colleges and universities manage injury-related financial risks associated with Name, Image, Likeness [NIL] and revenue-sharing commitments.
A spokesperson said, “SiriusPoint Ltd. [“SiriusPoint”] [NYSE: SPNT], a specialty underwriter, has today announced a new strategic partnership with Sutton Special Risk, a specialist managing general underwriter providing innovative accident and health insurance solutions. Together, they have launched SportsSecure, a specialized insurance solution designed to help college and university athletic programs manage injury-related financial exposures associated with Name, Image, Likeness [NIL] and revenue-sharing commitments.
“SportsSecure also helps athletic programs manage the impact of injury-related disruptions and support the long-term stability of their athletic programs.
“SiriusPoint and Sutton Special Risk combine their complementary strengths in underwriting, specialized insurance, sports-related accident and health expertise, and support brokers, colleges, and universities as they navigate the evolving NIL and revenue-sharing landscape.”
“We’re only at the beginning of NIL and revenue sharing, and it’s already creating a lot of uncertainty for colleges and universities,” said Tom Leonardo, Global Head of Accident & Health at SiriusPoint. “Athletic departments have a lot to manage, and the financial impact of an athlete’s injury should not create even more disruption. SportsSecure helps colleges and universities prepare for possible injuries, protect their financial commitments, and stay focused on supporting their athletes and programs.
“Since every athletic program is different, we wanted to work with a partner that understands both the sports market and the unique needs of colleges and universities,” added Mr. Leonardo. “Sutton Special Risk brings that expertise, and together we are offering a thoughtful, specialized way to manage injury-related financial exposure and protect the long-term stability of their athletic programs.”
“We are excited to partner with SiriusPoint to bring a dedicated solution to an increasingly important segment of the collegiate sports market,” said Christian Hanson, VP Sports at Sutton Special Risk. “By combining SiriusPoint’s underwriting strength and capacity with our specialist expertise, we are helping institutions better understand and manage these new exposures while providing protection that supports long-term financial stability.”
A spokesperson added, “For brokers, colleges and universities interested to learn more about SportsSecure, visit: https://www.siriuspt.com/sports-secure/.”
