Lloyd's insurer Watkins may have to pay as much as £1m for injuries to Rio Ferdinand who was hurt during England's South Africa training in the first big World Cup claim, Insurance Times reports.
Ferdinand hurt his knee ligament in England's first training session in South Africa on 4 June. The claim comes from the English Football Association. It has to pay clubs to cover the wages of any player injured on duty for the national side.
The way Lloyd's works and the way insurers split risks, mean other insurers will share the payout. The Manchester United defender earns £120,000 per week and may be out for several weeks to come.
Lloyd's has £6.2bn of World Cup insurance. This includes:
· Contingency (£3bn) - covering cancellation, competitions and prizes, broadcast rights
· Liability (£200m) - for example somebody tripping up because flooring had been laid badly
· Property (£3bn) - the value of the stadiums and training venues.
An individual player at the top of their game and playing in one of the top leagues for their country could be insured for as much as £50m - £40m for the value of their body and £10m for reputation.
Lloyd's said: "That's not to say that all the players out in South Africa at the moment are worth that much." – And they said that before the first game kicked off.
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