As featured in the Economist, major league sports have major league headaches softened by insurance for catastrophic injuries. The New York Times this past weekend, regaled us with how the Yankees decisions are muted by the ongoing Alex Rodriguez contract, which is starting to appear outsized for what is now an aging superstar. A certain proportion of injury risk is laid off on insurers, willing to take a gamble on the health of a major league player.
The soft and squishy part of these stories is likely played out in very private….what is an injury? Did the athlete take a dive? What is career ending? A surprising few of these matters end up in court, with the only one I can remember being the all-flop Brian Bosworth, who was never in the pros that which he was at Oklahoma. Maybe teams should start putting the names of their insurers on the backs of their players to defray the cost, but it is quoted in the Economist as only being four percent, which is a reasonable bet for the owners.