Berard in a Bind due to terms of insurance repayment
Apparently his pay-as-you-go arrangement with the insurance company, made because he resumed his career after taking a settlement, is scheduled to end and he's been holding out because he owes the insurer a lump sum.
Understandable why he needs to play this season, and why he needs money. I hope he signs soon, with the Bruins (or elsewhere) for his own sake. 2 year deal from the Bruins doesn't present itself often though.
This how Spector's Hockey Trade Rumors responded to the NY Post story on Berard:
"The market for this year's UFAs is tighter than a drum. Berard should take the two-year deal and get back on the ice and prove that last season wasn't a fluke. He's not going to find anybody willing to bite on more than $2.008 mil."
When you are talking surgery from the guys that perform surgery on these guys, something that might cost us 10,000 bucks could easily cost them 100,000.
And from what I understand the HUGE majority of it was NOT spent...it was saved by him.
Also realize that he repaid Toronto some insurance costs and costs for treatment as well.
That said, he DID end up spending a lot of cash on the various treatments associated with the injury.
Do you know this as fact or is this what you heard? I would certainly think that the Maple Leafs have a very, very comprehnsive health insurance policy that covers incidents like this. Why would he have to pay back insurance? Why would he have to pay for his own surgery?
Didnt that 6.4 million generate enough interest...it should have...maybe he should hire a new agent a new financial advisor.
I heard it from a friend who deos for the Leafs the same thing that Kirk does here for the Bruins.
He is VERY intune into the affairs for the Leafs.
Berards surgery was paid for by the insurance. But once he decided to resume his hockey career, it reverted back to being his own responsibility for payment.
I highly doubt that he had to repay any of the money for his surgeory. I am quite certain that this was covered under his policy by the Leafs as the accident happened *on the job* which in almost every walk of life (including McDonalds) the company is soley responsible for the damages. The only payment that Berard had to pay was the insurance on his contract which paid him because it looked like his livelihood was shot, when he came back to play he negotiated an amount to have to pay back...but there is NO WAY he paid anything more than a deductible for his injuries....if that.