NFP launches program to protect against sports tuition loss

NFP launches program to protect against sports tuition loss | Insurance Business America

Insurance News

NFP launches program to protect against sports tuition loss

New program offers reimbursement for activity fees

Insurance News

By
Steven Byerley

Property and casualty broker NFP has announced the launch of the Sports Tuition Expense Protection (STEP) program.

The program offers reimbursement for activity fees to families when their children are unable to participate due to injury, sickness of the player or a close family member, or if the family has to relocate.

Enrollment for the STEP program is open to individuals and teams through NFP’s Sports and Entertainment Group.

According to Leigh Ann Rossi, chief operating officer of NFP Sports and Entertainment, the STEP program is designed to provide coverage that enhances the experience for participants.

“A family’s financial obligations don’t disappear when a child suffers an injury and has to sit out,” Rossi said. “STEP provides peace of mind, eliminates the pressure to rush an athlete back into action prematurely, and ensures that clubs have the necessary funds for coaches, facilities, and events.”

NFP’s Sports and Entertainment Group’s clientele includes professional sports organizations and leagues across North America, individual sports franchises, and almost 12,000 professional athletes. NFP also serves as the governing body for collegiate athletics, with over 500 colleges and universities and more than 2,000 secondary/K-12 schools under its wing.

“There are a variety of challenges in creating great athletic experiences for kids and their families, including financial considerations,” LaFontaine said. “It has been great working with the NFP team on a solution that helps families whose children become injured or sick by minimizing their financial burden.”