The first-ever sports insurance scheme launched yesterday will provide coverage for athletes, coaches, and sports professionals affiliated with the Bhutan Olympics Committee (BOC). The scheme covers medical expenses and accidental injuries, among other benefits.
Bhutan Insurance Limited (BIL) launched this insurance scheme in collaboration with BOC.
The Chief Executive Officer of BIL, Damdi Dorji, said that the introduction of sports insurance is a timely and crucial step to promote physical wellbeing of athletes and sports professionals. “The scheme will provide insurance coverage to athletes participating in national and international sporting events, and safeguard them against unforeseen risks.”
Insurance for international athletes registered with clubs in Bhutan will also be covered through this scheme.
In an event of disability and loss of life, athletes and coaches will receive medical expenses and financial support. BIL offers two major insurance plans under this scheme – the enhanced plan and the standard plan.
The premium amount for the enhanced plan is Nu 4,832 per person annually. It covers insurance worth Nu 800,000 during personal accidents and Nu 200,000 for medical expenses. The annual premium amount for the standard plan is Nu 4,112, with Nu 600,000 for personal accidents and Nu 200,000 for medical expenses.Given the low frequency of tournaments of some sports, BIL has also crafted a short-term premium option, with 80 percent premium to be paid for insurance for less than 90 days and 90 percent premium for 90-180 days. Full premium will have to be paid for insurance coverage for more than 180 days.
National football icon Chencho Gyeltshen said that the insurance scheme is a profound initiative that will benefit sports professionals in the country. “In other countries, insurance for athletes is one of the topmost priorities, and I am happy that Bhutan also has it now.”
He said that sports insurance will play a vital role in supporting athletes and professionals during injuries through proper and timely medical treatment.
International athletes are usually covered through multiple insurance schemes, such as health insurance, personal accident insurance, critical illness insurance, sports-specific insurance, and public liability insurance, including endorsement and sponsorship insurance, equipment insurance, and life insurance.
National boxer Tashi Wangdi said that Bhutanese athletes used to be concerned about the lack of insurance when participating in international tournaments. “This might have affected their performance,” he said.
There are 15 sports federations, four sports associations, and 15 dzongkhag sports associations under the BOC.
A BOC official said that BOC will only cover insurance for athletes and coaches involved in priority sports such as archery while federations and associations will have to cover the insurance for athletes and coaches not involved in priority sports.
The President of Paro FC, Karma Jigme, said that the introduction of insurance scheme for athletes is a significant step forward in safeguarding the welfare of the players. “While the responsibility now falls on clubs to insure their athletes, I see this as a positive move.”
The President of Bhutan Football Federation, Ugen Tsechup Dorji, said, “Athletes dedicate their lives to achieving excellence and representing our nation with pride, and this support will send a message to athletes that we care for them.”
The sports insurance was launched to commemorate the 40th birth anniversary of His Royal Highness Prince Jigyel Ugyen Wangchuck, the President of the BOC.
The Chairman of BIL, Karma Lotey, said that His Royal Highness has been a beacon of inspiration and support for sports development in Bhutan, and this initiative is a tribute to his vision and unwavering commitment to promoting sports excellence in the country.
