Banks frequently purchase BOLI – bank-owned life insurance – on key executives. Companies are known to carry COLI – corporate-owned life insurance.
But there is no university-owned life insurance on risk-taking sports executives at the University of Arkansas.
After Coach Bobby Petrino crashed his motorcycle while riding without a helmet – but before the world learned that he hadn’t been alone – we wondered whether the university might have taken out some kind of key-man insurance on his life.
After all, this is the man given most of the credit for increasing the value of the Razorbacks football program by 59 percent to $89 million, according to Forbes magazine.
The answer in an email from Athletic Department spokesman Kevin Trainor is no, the UA "does not carry a life insurance policy on Bobby Petrino or other head coaches with the University as the beneficiary."
Maybe it should.
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