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By Michael Woods
he New York State Athletic Commission has found an insurer who has put together a policy which can be purchased by persons wishing to stage combat sports fight cards in NY state, as per a story by ESPN’s Dan Rafael.
That’s good, as it means the Jan 14 show at Barclays Center is on track to unfurl seamlessly, because the promoters will be on the same page as the NYSAC, and be using this new coverage put together by the United States Fire Insurance Company. But wait…the cost of the policy would make staging a smaller show, without the the backing of a major tv backer, as Showtime is for the Barclays show, difficult. To meet the $1 million per fighter coverage for catastrophic brain injury, it looks like the new policy will be around four times more expensive than previous policies called for.
“It is our understanding that a combat sports insurance policy has been approved with an insurance carrier (United States Fire Insurance Company) and will soon be made available to promoters,” NYSAC spokesman Laz Benitez told me.
The new law states, “The commission may from time to time promulgate regulations to adjust the amount of such minimum [medical insurance] limits.”
Note the wording. “Adjust.” That would indicate the powers that be could lower the insurance ask, and make smaller shows viable again. As of today, still, they are not viable. So while some applause might be called for with an insurance policy for the big time cards being crafted, there is no cause for joy for the little guys. The club show runners, the local heroes and rising stars are still, by and large, left out in the cold....
Read more at: http://nyfights.com/fight-news-nyf/n...ers-good-news/
he New York State Athletic Commission has found an insurer who has put together a policy which can be purchased by persons wishing to stage combat sports fight cards in NY state, as per a story by ESPN’s Dan Rafael.
That’s good, as it means the Jan 14 show at Barclays Center is on track to unfurl seamlessly, because the promoters will be on the same page as the NYSAC, and be using this new coverage put together by the United States Fire Insurance Company. But wait…the cost of the policy would make staging a smaller show, without the the backing of a major tv backer, as Showtime is for the Barclays show, difficult. To meet the $1 million per fighter coverage for catastrophic brain injury, it looks like the new policy will be around four times more expensive than previous policies called for.
“It is our understanding that a combat sports insurance policy has been approved with an insurance carrier (United States Fire Insurance Company) and will soon be made available to promoters,” NYSAC spokesman Laz Benitez told me.
The new law states, “The commission may from time to time promulgate regulations to adjust the amount of such minimum [medical insurance] limits.”
Note the wording. “Adjust.” That would indicate the powers that be could lower the insurance ask, and make smaller shows viable again. As of today, still, they are not viable. So while some applause might be called for with an insurance policy for the big time cards being crafted, there is no cause for joy for the little guys. The club show runners, the local heroes and rising stars are still, by and large, left out in the cold....
Read more at: http://nyfights.com/fight-news-nyf/n...ers-good-news/
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