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Disgrace Insurance

Disgrace Insurance Protects Companies From Celebrities

It's been nearly a year since Tiger Woods plowed his car into a pole on Thanksgiving, and a whole bunch of skeletons fell out of his golf bag. Since then his endorsement earnings, which were around $100 million per year, have faced a $20 million adjustment.

Brands like Gatorade, Nike, and AT&T dropped him by the middle of December, because let's face it nobody wants a sports drink that supports philandering. Whether it's for sex, drugs, or homicidal voicemails, a celebrity can become a persona non grata overnight. So now companies, who really are the victims, want to protect themselves with insurance.

Disgrace insurance is not a new type of insurance, but simply a new way of using a clause — "death, disability, and disgrace" — that's in nearly every insurance policy. While death and disgrace are cited in lawsuits every day, disgrace was rarely invoked until now. But why shouldn't it be? Isn't it one of the reasons betrayed spouses get so much bank in a divorce?

Image Source: Getty
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KibzeeLovee KibzeeLovee 5 years
Nike stayed with Tiger
stephley stephley 5 years
The companies want us to associate their products with the athletes' skill - as long as the athlete maintains performance, I don't see why the company should be allowed to dictate their private behavior. As often as not, the companies know what the person is like out of the public eye - plenty of the businessmen are hangers on, catching action because of their association with the star.
stephley stephley 5 years
I don't see why public figures should be held to standards the business people who hire them aren't.
GTCB GTCB 5 years
Morality clauses should be part of any sponsorship contract with public figures. There are already plenty of clauses out there for things like doping, drug abuse, and the like for pro athletes. That stuff ranks up there with other "bad" behaviour.
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