HFBoards

Go Back   HFBoards > General Hockey Discussion > The Business of Hockey
Mobile Hockey's Future Become a Sponsor Site Rules Support Forum vBookie Page 2
The Business of Hockey Discuss the financial and business aspects of the NHL. Topics may include the CBA, work stoppages, broadcast contracts, franchise sales, NHL revenues, relocation and expansion.

KHL arena closed to assess structural damage from.... a meteorite

Reply
 
Thread Tools
Old
02-15-2013, 11:45 AM
  #1
No Fun Shogun
Global Moderator
34-38-61-10-13-15
 
No Fun Shogun's Avatar
 
Join Date: May 2011
Location: Shogunate of Nofunia
Country: Fiji
Posts: 34,966
vCash: 5113
KHL arena closed to assess structural damage from.... a meteorite

As a lot of you have probably heard, a small meteorite hit near (or exploded above) the Russian city of Chelyabinsk.

http://en.wikipedia.org/wiki/2013_Russian_meteor_event

What you may not know is that the KHL has a team based in that city, Traktor Chelyabinsk, and their arena has apparently suffered some structural damage from the shockwaves from the impact. As such, the structure has been closed until an inspection of the building can be completed.

http://www.usatoday.com/story/sports...orite/1922735/

And, at least from the KHL board, sounds like Traktor might very well have to start the playoffs on the road to account for this.

Can't even imagine the economic impact this will have on the team if the damage to the facility is deemed serious. Already the first professional sports team to be directly affected by a meteorite impact.

No Fun Shogun is offline   Reply With Quote
Old
02-15-2013, 11:53 AM
  #2
LadyStanley
Elasmobranchology-go
 
LadyStanley's Avatar
 
Join Date: Sep 2004
Location: North of the Tank
Country: United States
Posts: 60,086
vCash: 500
MOD NOTE: Please only discuss economic/business impact on hockey. For the rest of the meteor story, head over to the Science forum: http://hfboards.hockeysfuture.com/sh....php?t=1350903

LadyStanley is offline   Reply With Quote
Old
02-15-2013, 12:50 PM
  #3
cutchemist42
Registered User
 
cutchemist42's Avatar
 
Join Date: Apr 2011
Location: Winnipeg
Country: Canada
Posts: 4,257
vCash: 500
The video of it was insane. Hope they have insurance for this sort of thing.

cutchemist42 is offline   Reply With Quote
Old
02-15-2013, 01:02 PM
  #4
LadyStanley
Elasmobranchology-go
 
LadyStanley's Avatar
 
Join Date: Sep 2004
Location: North of the Tank
Country: United States
Posts: 60,086
vCash: 500
Quote:
Originally Posted by cutchemist42 View Post
The video of it was insane. Hope they have insurance for this sort of thing.
"Act of God". Depends on insurance carrier/contract. May or may not be covered.

(I'd guess not, personally, given historical "cost cutting" observed from outside of KHL.)

LadyStanley is offline   Reply With Quote
Old
02-15-2013, 02:48 PM
  #5
krudmonk
Registered User
 
Join Date: Jan 2006
Location: Sannozay
Posts: 5,509
vCash: 500
Insurance companies seriously defer to a deity? That's kind of sad.

krudmonk is offline   Reply With Quote
Old
02-15-2013, 03:04 PM
  #6
Mantha Poodoo
Playoff Beard
 
Mantha Poodoo's Avatar
 
Join Date: Jun 2008
Posts: 3,912
vCash: 500
And here I thought it would have been Meteor Tremosna...

Mantha Poodoo is offline   Reply With Quote
Old
02-15-2013, 03:37 PM
  #7
No Fun Shogun
Global Moderator
34-38-61-10-13-15
 
No Fun Shogun's Avatar
 
Join Date: May 2011
Location: Shogunate of Nofunia
Country: Fiji
Posts: 34,966
vCash: 5113
Quote:
Originally Posted by krudmonk View Post
Insurance companies seriously defer to a deity? That's kind of sad.
It's just a catch all legal phrase for most natural disasters and to differentiate between them and accidents or intentional damages caused by people. It's not actually a reference to the divine or anything.

And, if I had to guess.... actually, scratch that..... this disaster will probably set some major precedent for insurance payouts and coverage for future impact events. It's by far the largest amount of damage caused by an impact event to personal property, both for the team and owners of the arena (if they're different) and for the general populace as it sounds like a ****load of windows got destroyed and other structures were damaged to various degrees.

No Fun Shogun is offline   Reply With Quote
Old
02-15-2013, 04:51 PM
  #8
MountainHawk
Registered User
 
MountainHawk's Avatar
 
Join Date: Sep 2005
Location: Salem, MA
Country: Vanuatu
Posts: 12,771
vCash: 500
Quote:
Originally Posted by krudmonk View Post
Insurance companies seriously defer to a deity? That's kind of sad.
Act of God is a legal term of art. Blame the legal profession, not the insurers. ;-)

MountainHawk is offline   Reply With Quote
Old
02-15-2013, 06:26 PM
  #9
Glacial
Registered User
 
Glacial's Avatar
 
Join Date: Jan 2013
Posts: 937
vCash: 500
Quote:
Originally Posted by No Fun Shogun View Post
And, at least from the KHL board, sounds like Traktor might very well have to start the playoffs on the road to account for this.

Can't even imagine the economic impact this will have on the team if the damage to the facility is deemed serious. Already the first professional sports team to be directly affected by a meteorite impact.
Stories like this are those rare occasions where I feel like I've arrived in 'the future'. "Tonight's game has been cancelled on the count of meteor showers". I'll have to wait for the MLB game with a meteor delay instead of a rain delay.

How many teams of any hockey league, heck, any sport, have meteor insurance? Anyone know about team/arena ownership insurance clauses that are rather bizarre? I mean beyond fire, flood, earthquake? Like arenas with tornado/downburst (or waterspout for those close to bodies of water) insurance when they are in an area with almost no history of tornadoes, especially past F0? Any other weird things they are protecting against? Like maybe revolutions? A Great Maple Syrup Revolt perhaps? That tragic plane crash in Russia made sports writers of every beat look into their respective sports' emergency clauses. Maybe this can look at what each team in the big 4 leagues in North America insures against. I heard there was a nuclear plant nearby (nuclear meltdown caused by meteor impact. That would have been ). With Fukushima in mind, any teams with nuclear meltdown/fallout insurance (like if they have to abandon their arena because it falls within an exclusion zone)?

Though I have some fears with any meteor insurance. An insurance company might try to weasel out of a payout by utilizing asteroid/meteor/meteorite definitions. Like "We're terribly sorry, but you have meteor insurance and when it impacts a structure on the ground, it becomes a meteorite. You needed meteorite insurance. Meteor insurance would only cover aircraft".


Last edited by Glacial: 02-15-2013 at 06:30 PM. Reason: went nuclear
Glacial is offline   Reply With Quote
Old
02-15-2013, 06:28 PM
  #10
Glacial
Registered User
 
Glacial's Avatar
 
Join Date: Jan 2013
Posts: 937
vCash: 500
Quote:
Originally Posted by No Fun Shogun View Post
It's just a catch all legal phrase for most natural disasters and to differentiate between them and accidents or intentional damages caused by people. It's not actually a reference to the divine or anything.

And, if I had to guess.... actually, scratch that..... this disaster will probably set some major precedent for insurance payouts and coverage for future impact events. It's by far the largest amount of damage caused by an impact event to personal property, both for the team and owners of the arena (if they're different) and for the general populace as it sounds like a ****load of windows got destroyed and other structures were damaged to various degrees.
Anyone invested in Russian glass manufacturers?

Glacial is offline   Reply With Quote
Old
02-15-2013, 07:30 PM
  #11
LadyStanley
Elasmobranchology-go
 
LadyStanley's Avatar
 
Join Date: Sep 2004
Location: North of the Tank
Country: United States
Posts: 60,086
vCash: 500
Quote:
Originally Posted by Glacial View Post
Any other weird things they are protecting against? Like maybe revolutions? A Great Maple Syrup Revolt perhaps?
Those are called "force majeure" in insurance terms. They include strikes, civil/military violence/actions.

(And are usually excluded from insurance coverage generically. One pays additionally for that coverage.)

LadyStanley is offline   Reply With Quote
Old
02-16-2013, 12:00 AM
  #12
saffronleaf
Registered User
 
saffronleaf's Avatar
 
Join Date: May 2011
Location: Ann Arbor, MI
Country:
Posts: 3,543
vCash: 500
Quote:
Originally Posted by LadyStanley View Post
Those are called "force majeure" in insurance terms. They include strikes, civil/military violence/actions.

(And are usually excluded from insurance coverage generically. One pays additionally for that coverage.)
I wonder how that works. What does the insurance company say? "In case there is a coup d'etat, we guarantee that we will insure any losses resulting therefrom."

It just sounds funny. Strikes I understand. But if there is widespread civil disobedience, or violent revolution, or a military coup... what can an insurance company do? The currency might have little value, private companies may be prohibited under the new regime, etc.

saffronleaf is offline   Reply With Quote
Old
02-16-2013, 12:15 AM
  #13
LadyStanley
Elasmobranchology-go
 
LadyStanley's Avatar
 
Join Date: Sep 2004
Location: North of the Tank
Country: United States
Posts: 60,086
vCash: 500
Quote:
Originally Posted by saffronleaf View Post
I wonder how that works. What does the insurance company say? "In case there is a coup d'etat, we guarantee that we will insure any losses resulting therefrom."

It just sounds funny. Strikes I understand. But if there is widespread civil disobedience, or violent revolution, or a military coup... what can an insurance company do? The currency might have little value, private companies may be prohibited under the new regime, etc.
OK, let's say your business general/liability insurance is $10,000/year (for $5m coverage, director liability, etc.).

Now, you think there may be a strike of drivers against your suppliers, so you get "force majeure" coverage for additional $2000 cost that will pay the difference in shipping companies (say FedEx vs freight rates) to get your supplies for up to 6 months.

It's all in how the contract is negotiated, what coverage/response is wanted/needed.


Another example -- you work in a volatile country with your family. The "force majeure" coverage gets them out of the country in case of war.


To get this back to hockey... It's possible that some teams considered getting "force majeure" coverage in case the players struck. (But as they locked out the players, it would have to be another type of insurance to cover operating costs while the lockout was on.)

LadyStanley is offline   Reply With Quote
Old
02-16-2013, 10:28 AM
  #14
MountainHawk
Registered User
 
MountainHawk's Avatar
 
Join Date: Sep 2005
Location: Salem, MA
Country: Vanuatu
Posts: 12,771
vCash: 500
I'm not sure a lockout is insurable from the owners perspective.

MountainHawk is offline   Reply With Quote
Old
02-16-2013, 11:21 AM
  #15
PSGJ
Registered User
 
Join Date: May 2012
Location: Sweden
Country: Sweden
Posts: 603
vCash: 500
On the bright site, now the team can have a much cooler nickname than "traktor".

PSGJ is offline   Reply With Quote
Old
02-16-2013, 06:48 PM
  #16
saffronleaf
Registered User
 
saffronleaf's Avatar
 
Join Date: May 2011
Location: Ann Arbor, MI
Country:
Posts: 3,543
vCash: 500
Quote:
Originally Posted by LadyStanley View Post
OK, let's say your business general/liability insurance is $10,000/year (for $5m coverage, director liability, etc.).

Now, you think there may be a strike of drivers against your suppliers, so you get "force majeure" coverage for additional $2000 cost that will pay the difference in shipping companies (say FedEx vs freight rates) to get your supplies for up to 6 months.

It's all in how the contract is negotiated, what coverage/response is wanted/needed.


Another example -- you work in a volatile country with your family. The "force majeure" coverage gets them out of the country in case of war.


To get this back to hockey... It's possible that some teams considered getting "force majeure" coverage in case the players struck. (But as they locked out the players, it would have to be another type of insurance to cover operating costs while the lockout was on.)
Thanks, good explanation.

saffronleaf is offline   Reply With Quote
Reply

Forum Jump


Bookmarks

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 10:56 PM.

monitoring_string = "e4251c93e2ba248d29da988d93bf5144"
Contact Us - HFBoards - Archive - Privacy Statement - Terms of Use - Advertise - Top - AdChoices

vBulletin Copyright ©2000 - 2015, Jelsoft Enterprises Ltd.
HFBoards.com is a property of CraveOnline Media, LLC, an Evolve Media, LLC company. 2015 All Rights Reserved.