Pillsbury Insurance Recovery & Advisory partner, Richard Giller, was featured on an episode of Lead1's podcast “LEAD1 Angle with Tom McMillen" to discuss name, image and likeness (NIL) insurance issues and topics that athletic departments should be aware of. 

In the episode, Giller discussed the recent Tiger Woods car crash, in regards to NIL, and endorsement insurance issues for college sports. From an NIL standpoint, Giller talks about how it is common for endorsement deals to have a “pay for play clause” where an athlete could be required to actively play his or her sport (as opposed to, for example, being permanently sidelined from injury) to receive endorsement payment pursuant to the contract. Giller thinks this situation would only apply towards big national NIL contracts at the college level, given that the threshold for professional athlete endorsement contracts is typically at least $500,000.

Giller also described other insurance policies that all college athletes should consider. While the NCAA provides permanent total disability (PTD) coverage (i.e., lump sum for not being able to play sports again), the NCAA does not offer loss of value (LOV) insurance (i.e., injured, but not permanently) because the coverage has not shown to consistently benefit athletes who file a claim. According to Giller, “the bigger the claim, the more likely to be denied by an insurance company.”

In addition, McMillen and Giller discussed the trend of NCAA Student Assistance Fund (SAF) monies being more and more directed towards paying insurance premiums as opposed to other intended areas for student-athletes such as educational, health, safety and personal or family expenses.

Listen to the full episode here.