Current through Register Vol. XLI, No. 50, December 13, 2024
Section 177-1-7 - Insurance for Boxers7.1. General. -- All promoters, clubs, associations and corporations engaged in the presentation of boxing events, amateur or professional, will provide Accidental Death & Dismemberment insurance for the protection of boxers appearing and participating in such events. The minimum amount of Accidental Death & Dismemberment insurance shall be twenty thousand dollars ($20,000).7.2. Coverage. -- Insurance coverage shall provide for reimbursement to the athlete for medical, surgical and hospital care with a minimum coverage of twenty thousand dollars ($20,000) per participant for injuries sustained while participating in any sanctioned boxing event under the control of a licensed promoter, club, corporation or association.7.3. Policy Deductible. -- The boxers shall not be subject to payment of any deductible amount required under the insurance policy. The promoter may provide insurance coverage to the boxers under a policy which has no deductible amount or a "zero" dollar deductible amount. In the alternative, if the promoter provides insurance coverage to the boxers under a policy which requires a deductible payment from the boxer for medical treatment, then the promoter will be required to pay all deductible payments incurred on behalf of the athlete directly to the medical provider. No promoter will be permitted to require a boxer to pay the deductible amount to the medical provider and seek reimbursement from the promoter.7.4. Penalty for nonpayment of premium. -- Failure to pay premiums on insurance required by this rule, shall be cause for suspension or revocation of the license of such promoter, club, corporation or association.7.5. Certificate of insurance. -- The promoter must submit a valid certificate of insurance coverage to the Commission no later than seventy-two (72) hours prior to the start of the event.