Pfitzy
Nathan Sharpe (72)
And thus, having gone their separate ways, we can finally close comment on Folau in this thread.
^^^ What he said.
^^^ What he said.
Australian Rugby / RA
- Thread starter Dave Beat
- Start date
Teh Other Dave
Alan Cameron (40)
0.00001 cents?
Benaud
Tom Lawton (22)
Or 8 depending on who's making up the story. Safe to say it's somewhere in the middle.
dillyboy
Colin Windon (37)
WTF??? Paywalled but apparently $8m payout 
Surely they jest....
https://amp.heraldsun.com.au/news/e...t/news-story/75293abbd515fa5b576dc7c3022b2423
Surely they jest....
https://amp.heraldsun.com.au/news/e...t/news-story/75293abbd515fa5b576dc7c3022b2423
dillyboy
Colin Windon (37)
I just don't see how RA can be responsible for any loss of sponsorship earnings he included in his claim. His third party sponsors dumped him before RA did so that's all on him!
I'd have been angry but understanding of his payout was the full balance of his contract - $8m if true is a farce!
I'd have been angry but understanding of his payout was the full balance of his contract - $8m if true is a farce!
Benaud
Tom Lawton (22)
I figured $8M would be about the mid point of the 2 starting offers. There wasn't a good precedent so it was difficult to determine who would win the case. And actually going through with the case, regardless of result, didn't appear to hurt Folau but had monumental ramifications for RA if all the players suggested got involved. So there was a decent chance they were ultimately going to meet in the middle, because RA had much greater incentive to avoid court. But of course they couldn't let the public know that they gave him such a large amount so everything had to be confidential and mutually apologetic statements were required to maintain reputation.
Then hearing the statements afterwards and reading the expressions as they left, I got the impression that's the way it played out.
That said I doubt Clarissa actually knows the settlement amount. It looks more like a guess than a leak. But it matches my guess.
Then hearing the statements afterwards and reading the expressions as they left, I got the impression that's the way it played out.
That said I doubt Clarissa actually knows the settlement amount. It looks more like a guess than a leak. But it matches my guess.
KOB1987
John Eales (66)
From where?
James Pettifer
Jim Clark (26)
Except they have insurance up to $10 million. So it has no financial impact.
And as a single claim, it is unlikely to have a material impact on their future premiums.
kiap
Steve Williams (59)
^Well, yes. Taking insurance … surely … means not being solely liable for such a large payout.
You'd presume so, and hope so, on RA's behalf - as disastrous as the whole affair has been.
However claiming there is no financial impact at all , nor material effect on future premiums is dubious. It comes with no more weight than the speculation about the size of the payout itself.
The details of both are still hidden away
You'd presume so, and hope so, on RA's behalf - as disastrous as the whole affair has been.
However claiming there is no financial impact at all , nor material effect on future premiums is dubious. It comes with no more weight than the speculation about the size of the payout itself.
The details of both are still hidden away
James Pettifer
Jim Clark (26)
Given I work in insurance pricing, I reckon I’ve got a pretty decent idea of the impact if it were $8 million. Large claims happen.
Of course I doubt it is that much. His initial demand was $10 million. It would be very odd for a settlement to be that high as a proportion of the amount.
kiap
Steve Williams (59)
How long was she signed for, do you know?
That said, if the board continues the cycle of appointments of friends of the board then the answer won't mean much anyway.
James Pettifer
Jim Clark (26)
Folau’s starting offer was $10 millio. He increased to $14 million which was widely regarded as being insane as it claimed he couple be captain
I doubt whether it was $8 million and RA would have had minimal input into the amount if it is fully covered under the insurance contract
kiap
Steve Williams (59)
1. How much is RA itself paying - including to the insurer?
Unless you are stating it is zero, then claiming there's no financial impact is eyewash. Hell, I'd even give leeway below half a million bucks to get away with that.
2. What is the net outcome for the insurer - are they the losers on this?
3. Did you do their pricing?
Doubt or know the amount?
James Pettifer
Jim Clark (26)
Of course the insurer will be losers. They are every time a claim is made.
RA may have an excess but the policy limit was stated at $10 million. Also they won’t have to pay out Folau’s remaining contract (unless that was part of the agreement with the insurer. Impact is likely to be minimal.
Pricing typically doesn’t adjust for single large losses. They happen. Also, I’d expect RA to put in mitigation strategies to stop it happening again.
Less than $8 million. Castle has said that the number talked about is “Wildly Inaccurate”.
Folau’s claim blamed RA for his loss of sponsors (who left before he was sacked, one for the prior event) and for his future career where they have no control or responsibility for who signs him in the future.