New York Jets’ resolution to skip insurance coverage on Aaron Rodgers proves expensive

New York Jets’ resolution to skip insurance coverage on Aaron Rodgers proves expensive | Insurance coverage Enterprise America

Star suffers important damage

New York Jets' decision to skip insurance on Aaron Rodgers proves costly

Insurance coverage Information

Mika Pangilinan

The New York Jets reportedly selected to not buy incapacity insurance coverage for Aaron Rodgers earlier than the beginning of the 2023 NFL season.

The choice got here regardless of the Jets being provided a number of insurance policies for the veteran quarterback, a report by Sportico famous, probably costing the crew over $20 million in insurance coverage proceeds.

Rodgers had simply signed a revised two-year $75 million cope with the crew however suffered an Achilles tendon damage within the first recreation of the season.

Short-term whole incapacity (TTD) insurance policies may also help groups recoup important parts of a participant’s assured wage in the event that they maintain such season-ending accidents. Sources cited by Sportico revealed that a number of insurance policies had been provided to the crew, with premiums starting from roughly $1 million to $4 million. The best-end choices would have lined round 60% of the $37 million that Rodgers was set to obtain this season.

As Rodgers continues his restoration, discussions relating to the potential of implementing a league-wide TTD protection system throughout the NFL have began to realize traction. Buying TTD insurance policies stay on the discretion of particular person groups, with insiders estimating that round 65 gamers within the league at present have contracts lined by TTD insurance policies

Insurance coverage restoration lawyer Richard Giller mentioned the choice ought to have been a “no-brainer” for the Jets, given Rodgers’ age and years-long profession.

“If they really had a proposal to insure a 39-year-old quarterback with 19 years of service, they need to have taken it at any value,” he instructed Sportico. “I do know hindsight is 20/20, however he’s a 39-year-old quarterback.”

This isn’t the primary time that the Jets has chosen to forgo insurance coverage protection for its gamers, as Sportico revealed that the crew has kept away from investing in TTD insurance policies for at the very least a decade.

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