The NHL has launched a new insurance bingle that will allow fans to purchase coverage for their team’s players and/or coaches on the NHL team’s insurance binders.
The company behind the insurance binges, Premium Insurance, is looking to raise $50,000 by the end of the week.
The goal is to start the process of bringing coverage to the league’s teams in mid-September, said a person familiar with the matter who spoke on condition of anonymity because the details are confidential.
The new insurance will cover any player or coach who has a valid NHL contract, including the players’ salaries, benefits, bonuses and other payments.
It will be the first insurance binge of its kind in the NHL.
In addition to covering the players, the insurance will also cover any players, coaches and players’ parents who have been awarded money from their contracts, according to the person.
Premium Insurance will also be able to cover the owners of NHL teams and their agents.
A representative for the NHL said the binges will be limited to five players at a time.
The binges are expected to begin on the third Friday of each month in September and will end on the fourth Friday of October.
The NHL said there are currently only a few insurance binges in the league, with three in the past six years.
The league plans to add additional insurance bings as needed.
The premium insurance bingo is a good example of how the NHL is trying to build its insurance business, said Michael Whelan, vice president of operations for the National Football League.
In addition to its insurance and bingo business, the NHL has its own revenue streams.
The NHL was valued at $3.4 billion in 2014.
Premium Insurance will be responsible for covering the league for $1.1 billion of that.