Here's the issue with that. And it may go beyond "figuring out," GIVEN MARKET REALITIES:
"Availability and Risks of Loss-of-Value Coverage
While the earning potential for college athletes has never been greater, availability of LOV coverage has waned in recent years. While more than 45 college football players in the 2018 NFL draft class were
insured for LOV coverage, only about half-a-dozen prospects secured such coverage before the 2021 NFL draft.
LOV coverage also has become significantly more expensive in recent years, now easily topping $100,000 in annual premiums for top football prospects.
"This price tag becomes more worrisome when considering that LOV insurance, like all other types of insurance, comes with the risk that an insurer might decline coverage when an injury actually occurs. LOV insurance comes with limitations and exclusions, including those for pre-existing injuries, illnesses, and other performance-related realities, such as drug and alcohol use, criminal acts, off-field issues and injuries, as well as poor performance during the season or at pre-draft events. Such provisions allow insurers to argue that an athlete is not entitled to coverage because the athlete’s “loss of value” was the result of some other, excluded cause rather than a covered injury.
"
Notably, the NCAA does not provide LOV coverage to its college athletes because of such concerns, stating:
"Additionally, the NCAA has recommended that only college athletes “among the top 10 picks in their respective draft” should consider purchasing LOV insurance, because athletes outside that range may have challenges proving the cause of their loss in earnings if they file a claim."
Not ALL RISKS are so easily INSURABLE. High premiums, coverage exclusions, denial of coverage and LITIGATION are often factors that make this kind of insurance IMPRACTICAL.
TECHNICALLY, you can insure the worst $1 million risk in the world, but it will cost you $1 million in premium. In other words, FULL COLLATERAL.
At that point, you're SELF-INSURING.