You here about these guys breaking bones repeatedly. In some cases, many more trips than usual to the emergency room each year. Plus they’re self employed.
They must have insurance, because otherwise they’d be bankrupt. But where do they get it?
There are companies that will insure high risk customers. K&K Insurance specializes in insurance for high risk activities. When I drove race car they provided insurance for all the competitors. And insurance for those so called “extreme athletes” in not cheap. The companies that do provide coverage use what is called pool insurance, many from different are all pooled together to save everyone a little money.
The kind of insurance that is expensive is life insurance for those that fall into high risk categories. My employers life insurance provider cut me off while I was driving race cars. The even considered working on the cars as high risk. When I quit driving race cars I was able to get the insurance reinstated by signing a waiver that I would not drive race cars again.
The last line of the first paragraph should read, The companies that do provide coverage use what is called pool insurance, many from different sports or activities are all pooled together to save everyone a little money.
The most famous of these companies is Lloyds of London.
They insure many types of people in very high risk jobs.