SiriusPoint Ltd., a specialty underwriter, has entered a strategic partnership with Sutton Special Risk, a specialist managing general underwriter focused on accident and health insurance, to launch SportsSecure.
The product is designed for college and university athletic programs facing financial exposures tied to athlete injuries, including commitments related to Name, Image, Likeness and revenue sharing.
SportsSecure also addresses financial disruption caused by injuries and is intended to support greater stability across athletic programs.
The partnership combines SiriusPoint’s underwriting capacity with Sutton Special Risk’s experience in sports-related accident and health insurance. The companies will work with brokers, colleges and universities as institutions adjust to changes in NIL and revenue-sharing arrangements.
We’re only at the beginning of NIL and revenue sharing, and it’s already creating a lot of uncertainty for colleges and universities.
Tom Leonardo, global head of Accident & Health at SiriusPoint
Leonardo said athletic departments already manage numerous financial and operational pressures, and an athlete’s injury shouldn’t create another major disruption. SportsSecure is intended to help institutions prepare for injury-related losses and protect financial commitments made to athletes.
He added that college athletic programs differ significantly in structure and exposure, making specialist underwriting important. SiriusPoint selected Sutton Special Risk because of its experience in both the sports market and the needs of colleges and universities.
The product arrives as colleges and universities take on new financial commitments connected with collegiate athletes. Those obligations create additional exposure when an injury affects an athlete’s ability to participate.
SiriusPoint and Sutton Special Risk designed SportsSecure around those injury-related financial risks rather than broader athletic program coverage.
The product is aimed at institutions seeking a dedicated way to manage potential losses associated with NIL and revenue-sharing commitments.
Christian Hanson, VP Sports at Sutton Special Risk, said the partnership brings a dedicated insurance product to a growing part of the collegiate sports market.
By combining SiriusPoint’s underwriting strength and capacity with our specialist expertise, we are helping institutions better understand and manage these new exposures while providing protection that supports long-term financial stability,.
Christian Hanson, VP Sports at Sutton Special Risk
SiriusPoint is a specialty underwriter providing insurance and reinsurance solutions to clients and brokers globally. The Bermuda-headquartered company has offices in New York, London, Stockholm and other locations and is listed on the New York Stock Exchange under the ticker SPNT.
