Sports Facilities Need Specialized Expertise to Mitigate These 5 Critical Risks
Sports facilities contend with a unique and multi-faceted set of exposures. Their risk profiles are a conglomeration of traditional property and hospitality risks, but with the added liability associated with keeping players and spectators as safe as possible.
Even within the sports sector, risks vary widely depending on whether a facility is a large arena hosting a professional league… or a local basketball gym hosting a youth summer skills camp.
One common factor, though, is that gathering large groups of people in one place for an extended period of time naturally creates more opportunities for loss events to happen.
“Some of the claims that we see, you wouldn’t see any place else outside of a sports and entertainment type of property,” said Lita Mello, Senior Vice President, Recreation Division, K&K Insurance.
No two facilities have the same risk management and insurance needs. These nuances demand a high degree of specialized expertise from underwriters and claims professionals.
Here are five common exposure areas sports facilities face, and why they need insurance providers with niche expertise:
To learn more about K&K Insurance, please visit their website.