HOUSTON, July 11, 2017 /PRNewswire/ -- More than 600,000 sports teams, leagues and clubs will have access to "Registration Saver," a new affordable insurance plan for parents of youth athletes, via a partnership between AIG Travel, Next Wave Insurance Services, LLC and SportsEngine, Inc., a NBC Sports Group company that provides a comprehensive registration platform for youth and amateur sports associations, teams, and clubs.
Registration Saver, also known as Regsaver, offers parents the option to purchase insurance that can cover the registration fees, tournament fees and non-refundable travel costs in the event a player is unable to participate in a sporting season, camp, race or tournament due to a covered unforeseen circumstance.
"We understand that the 'No Refund' policy many sports organizations have in place can be frustrating for families and players, especially when any number of things could happen that would prevent an athlete from participating or traveling," said Jeff Rutledge, CEO, AIG Travel. "Our new plan, Regsaver, provides that extra layer of insurance protection across a broad range of scenarios from a tournament canceled due to weather, to an athlete becoming sick, to the car breaking down on the way to summer camp."
The benefits of this policy also extend to situations such as a parent being called to active duty military service, preventing their child from making it to a volleyball tournament, for which the insured may receive a full reimbursement. Currently, the policy is available to a select number of sports organizations, but the new partnership will expand the availability of the plan to a broader range of sports, associations and organizations via SportsEngine's extensive membership base and reach within the youth and amateur sports community.
"Our customers have often asked about ways to implement appropriate refund policies for their programs," said Justin Kaufenberg, CEO, SportsEngine. "We're excited to share that Regsaver is now a feature in our Registration product that takes the stress off organizations and gives their member families the option to have peace of mind when it comes to their finances."
Families, athletes and organizations registered with SportsEngine – across nine different sports – will have access to this policy as an option through the standard registration process. For athletes and parents, the cost for the single-event policy will be 6 to 7 percent of their registration fees or minimum of $7.00.
Regsaver encompasses two policies:
- The multi-event policy (i.e. a season) covers registration fees with a premium calculated at 7 percent.
- The single-event policy covers events, such as a tournament or camp, plus also covers travel-related expenses at a 6 percent premium.
"We are excited to partner with AIG Travel to deliver a true solution to the 'No Refund' policy that has been a longtime issue for sports organizations and families," said Jeff Ward, CEO, Next Wave. "Signing up to play a sport can be expensive, and this policy provides an affordable option to safeguard that investment for families with kids playing sports."
About SportsEngine Inc
Helping the world play smarter and live more, SportsEngine, Inc., an NBC Sports Group company, is the leading provider of Sport Life Management mobile applications for coaches, parents, and athletes and Sports Relationship Management tools for governing bodies, leagues, clubs, associations and events. SportsEngine, Inc. powers over 650,000 teams, leagues, and clubs, helping them manage, connect, and communicate with a diverse range of stakeholders, including athletes, parents, administrators, coaches, referees, scouts, volunteers, fans, journalists, and sponsors. Founded in 2008, SportsEngine, Inc. is based in Minneapolis, MN. For more information, please visit www.sportsengine.com/solutions; like the company on Facebook at Facebook.com/sportsengine; or follow SportsEngine on Twitter at https://twitter.com/@sportsengine.
About AIG Travel and Travel Guard
AIG Travel, Inc., a member of American International Group, Inc., is a worldwide leader in travel insurance and global assistance. Travel Guard® is the marketing name for its portfolio of travel insurance solutions and travel-related services, including medical and security services, marketed to both leisure and business travelers around the globe. Services are provided through a network of wholly owned service centers located in Asia, Europe and the Americas. For additional information, please visit our websites at www.aig.com/travel and www.travelguard.com. For more information about the AIG Travel portfolio of travel, emergency medical, security and concierge services, visit www.aig.com/travel or visit www.regsaver.com/USARugby.
American International Group, Inc. (AIG) is a leading global insurance organization. Founded in 1919, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement products, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG's core businesses include Commercial Insurance and Consumer Insurance, as well as Other Operations. Commercial Insurance comprises two modules – Liability and Financial Lines, and Property and Special Risks. Consumer Insurance comprises four modules – Individual Retirement, Group Retirement, Life Insurance and Personal Insurance. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance| LinkedIn: www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.
About Next Wave
Based in San Diego, Calif., Next Wave Insurance Services, LLC operates as a Managing General Underwriting and Wholesale Brokerage firm in the Property & Casualty insurance industry. The firm specializes in developing a wide range of customized insurance products in both the personal and commercial lines markets. Next Wave also designs the technology required to distribute insurance policies efficiently to consumers nationwide.