MLB Player insurance

[ibbill]

Question when a player is put on the DL do the teams have insurance to help pay for their salaries.

 

Reyes makes $98,765.43 per game X 162 if hurt do the Jays pay the whole amount or?

 

Bill and so it goes

[G-Snarls]

Some teams get insurance on some players contracts. It seems to be relatively rare to do this and teams rarely divulge whether a given player's contract is insured. Mostly mega contracts and long term ones perhaps and they never cover 100%. No idea if Reyes' contract is insured or not - not sure if anyone outside f the a Blue Jays front office would know this or not.

[G-Snarls]

Useful artcicles:

 

http://www.washingtonpost.com/blogs/nationals-journal/wp/2012/09/05/stephen-strasburgs-shutdown-and-how-baseball-teams-insure-contracts/

 

http://metsmerizedonline.com/2013/02/understanding-the-business-of-baseball-insurance-on-player-contracts.html/

[TheHurl]

Only contract I know is for sure insured is Bautista. Usually only the bigger long term contracts are insured. A young pitcher with a history of injuries insurance costs 5% of their salary...hitters are like 2%. Players have to miss at least 60 days (straight I believe) for most insurance policies to kick in, and then there are usually provisions about previously injured body parts.

[GD]

Useful artcicles:

 

http://www.washingtonpost.com/blogs/nationals-journal/wp/2012/09/05/stephen-strasburgs-shutdown-and-how-baseball-teams-insure-contracts/

 

http://metsmerizedonline.com/2013/02/understanding-the-business-of-baseball-insurance-on-player-contracts.html/

 

Hey, you didn't link Bleacher Report!

[ibbill]

okay guys thanks for the info. I need to get a gig like Reyes has

[flafson]

Think about it this way, any idea how much a life insurance cost? The cost is usually determined by the amount of coverage and the period of time. To cover 1 million the insurance company needs to get something close to that number throughout the contract otherwise it doesn't make sense to them or there needs to be enough clauses inside to limit their risk to only certain situations.

I could totally see how a contract can end up almost costing double for figures this high.

[G-Snarls]

Hey, you didn't link Bleacher Report!

 

LOL

 

Trying to break the habit

[G-Snarls]

okay guys thanks for the info. I need to get a gig like Reyes has

 

It's good work if you can get it. The crazy thing is when you think about it, if he wasn't so good at baseball he probably would have ended up dirt poor and working in a toilet making factory like his father did. Sad to think how few in his situation might rise above the poverty vs how many are stuck in it for life.

[fatcowxlive]

Question when a player is put on the DL do the teams have insurance to help pay for their salaries.

 

Reyes makes $98,765.43 per game X 162 if hurt do the Jays pay the whole amount or?

 

Bill and so it goes

 

Welcome to the board!

[ibbill]

It's good work if you can get it. The crazy thing is when you think about it, if he wasn't so good at baseball he probably would have ended up dirt poor and working in a toilet making factory like his father did. Sad to think how few in his situation might rise above the poverty vs how many are stuck in it for life.

 

That is really sad.

 

Hes signed for 22,000,000.00 for the next 3 years not bad a 6 mil raise.lol

 

He could probably buy his city for that much maybe the whole country. Villa Gonzalez, Dominican Republic

 

Bill and so it goes