'England football team is a £293m risk'

The London insurance market is anxiously awaiting the safe arrival of the England football team - estimated to be worth over £293m - in South Africa tomorrow, according to broker Lockton.

Michael Owen, executive director at Lockton said: “The ‘re-sale’ value of the 23-man English World Cup squad is in the region of £293m. The risk of these players flying across some of the world’s most unprotected airspace is concentrating the minds of London insurance brokers and underwriters alike. Especially following a number of recent tragic air crashes.

“The actual insured value of each of the squad is hard to quantify. What is certain is that it is a significant ‘insured risk’, as the players are likely to have various insurance covers provided by the FA, as well as personal insurance cover taken out by individual players and their respective clubs. Cover is likely to include Accidental Death policies for the players and the team entourage while travelling to South Africa plus any transit from game to game once there. This cover is particularly important as the political violence threat in South Africa has recently been elevated to ‘severe’, prior to the start of the World Cup."

Owen also said that wage protection insurance at the World Cup has come into focus following Michael Ballack’s injury at the FA Cup Final.

"Player’s Permanent Total (career ending protection) and Temporary Total (Wage Protection) Disability insurance is purchased by the larger national football associations to help protect clubs, should one of their players be badly injured while playing for their national side at the World Cup."

He added: “Football is big business these days, and the risk of players travelling together on top of the injury risk, are of big concern to clubs who are loaning their ‘assets’ to the national sides. London is the world leading insurance market for these kinds of risks, so it is all eyes on South Africa over the course of the next few weeks."