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Insider crime leads to big league problems
Vice Sports recently published a story on embezzlement and fraud schemes and apparently lax financial management system in Little League across the country. In “Little Big Crime,” Vice Sports reports volunteer staff embezzled or stole close to $2 million from within 37 Little Leagues in 2009, with 19 of …
Insurance Executive Speaks Out About Youth Tackle Football Insurance
John Sadler of Sadler Sports Insurance was interviewed by California Youth Football Alliance on Chain Crew Podcast entitled “Show # 2: Is Football Insurance Dying?” The topics covered include the current state of the insurance industry as it relates to youth tackle football, the ESPN article claiming that lack of insurance will …
Protecting your funds and equipment
We have seen a growing number of theft occurrences in youth sports organizations by trusted directors, officers, and other volunteers. Such theft can take the form of embezzlement or the taking of equipment. Media accounts of such activity are backed up by the recent claims paid out by our insurance carriers.
The primary …
When adults cheat, it’s the kids who pay
Fraud and cheating occur too frequently in government, business, education, mediaand, sadly, even youth sports organizations.
Little League stripped the Jackie Robinson West team of its U.S. championship and suspended its coach for violating the league’s team boundary rule. In what can only be called a team-building effort, team …
The purchase of quality sports insurance policies, including Excess Accident, General Liability, Directors & Officers Liability, Crime, and Equipment, is an essential element of a broader based risk management program. The purchase of these policies has become the standard in youth sports. Failure to do so subjects the entity and its directors, officers, employees, volunteers, and …
Some administrators who make the insurance purchasing decisions for sports organizations are confused over the difference between Crime Insurance and Equipment Insurance. They mistakenly believe that theft of equipment by outsiders or vandalism of equipment is a “crime” and as a result covered by a Crime Policy. This is not correct.
Employee/volunteer theft are more prevalent than many realize
Sports and recreation organizations can have significant assets at risk from the traditional employee or volunteer embezzlement and the modern perils of electronic fraud. Most sports organizations are not properly insured for these exposures and don’t have adequate risk management controls in place.
The Commercial Crime policy form (ISO …
The minimum needed for maximum benefit
Because many sports organizations are run by volunteers, they are often under-insured. Insufficient insurance coverage may be a by-product of money-saving efforts or simply a matter of not understanding the risks of exposure to the athletes, coaches, staff and volunteers, and board members
Below is a list of the most important …
The risks can be catastrophic
Being underinsured is just as big a mistake as being uninsured. It’s no secret that insurance is one of those necessary purchases that buyers resent. But it’s also no secret that purchasing the correct coverage has protected countless people and organizations from potentially catastrophic financial circumstances.
Sports organizations are often run by …
Yes, it’s really a crime
How can a youth sports league protect itself from embezzlement and theft by volunteers? These crime rates are growing quicker than people may notice or care to see, and it’s no longer just a corporate problem. In a tough economy many people are losing their homes and vehicles, and desperate to …