Insuring David Beckham

Emmanuel Kenning
clock • 1 min read

Following the news that David Beckham's proposed loan move to Tottenham Hotspur was being affected by insurance issues, Manchester-based broker CBG group has calculated the insurance cost for the short-term loan as being a minimum of £300,000.

Dave Mackie, group business development director at CBG, said: "Having suffered an Achilles injury while on loan at AC Milan last year, adequate insurance to protect Beckham while he's in the UK - in addition to protecting LA Galaxy's investment in him - is essential.

"Insurers calculating a premium would need to take into account his past injuries, age and current physical condition. An estimate for his insurance premium could easily start from £300,000 upwards, depending upon the type and level of cover selected - all of which is subject to the appetite of the schedule of insurers, which is necessary to provide such a high level of cover."

The broker explained that players are usually insured for loss of wages after a determined period, a career-ending injury or a mixture of both.

One insurance professional, who declined to be named, expressed incredulity that insurance was causing the delay. The source commented: "It is highly unlikely that insurance would scupper the deal. It is probably a smokescreen."

David Beckham is currently in negotiations to join Tottenham ahead of returning to LA Galaxy for the first match on 15 March.

Article courtesy of Insurance Age

More on Individual Protection

CMA clears Aviva/AIG Life acquisition

CMA clears Aviva/AIG Life acquisition

Full decision to be published shortly

Cameron Roberts
clock 28 March 2024 • 1 min read
Legal & General pays out £921m in individual protection claims

Legal & General pays out £921m in individual protection claims

“High levels of deliberate misrepresentation”

Jaskeet Briah
clock 28 March 2024 • 2 min read
22% of adults without children delay taking out protection: L&G

22% of adults without children delay taking out protection: L&G

11% were putting off financial decisions until marriage

Jaskeet Briah
clock 27 March 2024 • 2 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read