Rio Ferdinand injury claim could cost £1m
The Lloyd’s market is bracing itself for the first big World Cup claim from the English Football Association, after captain Rio Ferdinand suffered a knee ligament injury in England’s first training session in South Africa on 4 June.
Lloyd’s Syndicate 457, the Watkins Syndicate – backed by Munich Re – is said to be the lead underwriter on the FA policy, along with a spread of other syndicates that will share the cost of up to £1m. The policy covers a player’s weekly wages, to protect their club should they be badly injured during the tournament.
The Manchester United defender, who reportedly earns £120,000 per week, flew back to the UK to rehabilitate. Early estimates ruled Ferdinand out of action for up to six weeks.
Watkins Syndicate declined to comment. The FA could not be reached at the time of going to press.