The Jockeys’ Guild has announced that an increase in insurance coverage and benefits for its members went into effect July 1.
The coverage from Aetna was arranged through the assistance of Robert H. Clarkson Insurance Agency of Louisville, Ky., according to a press release, which said the additional coverage and benefits under the new policy will be provided at no additional cost to the active or retired members.
Under the new policy, the active members are eligible for a term life insurance benefit in the amount of $10,000 to $125,000, depending on the number of mounts they have ridden and contributed on during the previous calendar year. Retired members will now be eligible for a term life insurance benefit in the amount of $15,000, an increase over what was previously provided.
In addition to the life insurance benefit already provided to active Guild members, they will also be covered under an Accidental Death & Dismemberment (AD&D) policy, according to the release. The Guild said this policy will provide benefits in the amount of $10,000 to $125,000, depending on the number of mounts they have ridden and contributed on during the previous calendar year and the severity of the injury sustained.
This AD&D coverage applies to on-track accidents and 24 hours a day, seven days a week to any other covered accidents off of the track. Under the AD&D policy, members will also be eligible to receive benefits under a Travel Assistance Program, a Legal Reference Plan, the possibility of an accelerated benefit and a coma benefit if necessary, as well as other services provided by Aetna.
“The Guild has worked tirelessly to increase benefits for both its active and retired members,” said John Velazquez, chairman of the Jockeys’ Guild. "We felt the AD&D coverage was such an important benefit, given the extreme risks associated with being a jockey. This additional benefit will assist the members, as well as their families, and will possibly prevent having to seek the assistance of other industry partners every time a catastrophic event occurs.”
“We believe this is just the first step and we hope to continue working with the Guild to provide additional benefits moving forward,” said Bobby Clarkson, owner of Robert H. Clarkson Insurance Agency.
“The monies received from its (the Guild's) membership, as well as from the tracks who contribute to the Guild, are used to provide our membership with as many benefits as possible,” said Terry Meyocks, national manager of the Jockeys’ Guild. “We are continuing to work on safety initiatives and research in hopes that benefits such as these will not be necessary. However, until then at least the members and their families will have some peace of mind.”