A growing number of big brands are buying death and disgrace insurance coverage through Lloyd’s to protect themselves against financial losses incurred on campaigns involving celebrity athletes, musicians, and film stars where the celebrity in question either behaves inappropriately or is unable to continue to represent the brand.
To put the scale of this industry in context, Manchester United’s Wayne Rooney reportedly earns $3 million from endorsements while Real Madrid’s Cristiano Ronaldo is reported to make around $21 million thanks to deals with Nike, Castrol and others. Although retired from professional football, David Beckham is said to earn $42 million from endorsements.
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Lloyd's, Europe, Paul Evans, Marsh, Talbot Underwriting, Alan Norris