The New NIL Playbook: Insurance Enters College Sports with Urban Meyer

FORT WORTH, TX – January 14, 2026 – In a move that signals another major step in the professionalization of college athletics, insurance and financial services firm Higginbotham has launched a suite of NIL (Name, Image, and Likeness) insurance products, with College Football Hall of Fame coach Urban Meyer serving as a key advisor. The initiative aims to bring financial stability and risk management to the volatile, multi-billion-dollar world of student-athlete compensation.

Since the NCAA opened the floodgates in July 2021, the NIL market has exploded, transforming amateur athletics into a commercial enterprise projected to exceed $1.67 billion in the 2024-25 academic year. With donor-led collectives accounting for over 80% of this activity and universities preparing for direct revenue-sharing with athletes, the financial stakes have never been higher. These multi-million dollar commitments, however, come with significant risks—a star quarterback’s season-ending injury or a reputational misstep can jeopardize a massive investment overnight.

Higginbotham’s new offering is designed to address this exact exposure, providing a safety net for the universities and NIL organizations making these large-scale financial promises.

Professionalizing Risk for a New Era

The introduction of specialized insurance underscores a fundamental shift in how college sports programs operate. They are increasingly adopting the sophisticated risk management strategies long used by professional leagues to protect their investments. Higginbotham’s NIL coverage options mirror those found in the pro ranks, including permanent total disability, critical and temporary injury benefits, and even death and disgrace coverage. It also offers contingency coverage for performance-based incentives written into specific athlete contracts.

This reflects a new reality where student-athletes are not just players, but valuable assets whose availability is critical to a program's financial and competitive success. "College athletics is changing fast, and the risk side has to keep up," said Rusty Reid, President and CEO of Higginbotham. "We've done this work for the pros before. Now that college programs are becoming professionalized, our job is to bring that same care, discipline and long-term thinking to the support systems behind them."

This sentiment is echoed across an industry bracing for the financial impact of the landmark House v. NCAA settlement, which will soon allow schools to pay athletes directly. With athletic departments set to manage payrolls reaching upwards of $20 million per year, the ability to insure those commitments against unforeseen events becomes not just a luxury, but a core component of fiscal responsibility.

A Strategic Play by a Hall of Fame Coach

The involvement of Urban Meyer lends immediate credibility and deep industry insight to the venture. As a three-time national champion coach and current FOX Sports analyst, Meyer brings an intimate understanding of the pressures and complexities of building and sustaining an elite college program. His role is not merely as a celebrity endorser but as a strategic advisor, helping to shape a product that meets the real-world needs of coaches, athletic directors, and donors.

"I'm all for players being compensated and having opportunities that match the risks they're taking," Meyer stated. "But if you're going to build a program that lasts, it has to be responsible. When you take a big, unexpected hit and there's no plan for it, everything tightens up. And that's going to affect the athletes first."

Meyer’s stance is nuanced. He has previously criticized the “pay-for-play” ethos of some NIL collectives, calling them a deviation from the original intent of NIL. His partnership with Higginbotham appears to align with his desire for a more structured and sustainable system—one that supports athletes while protecting the institutions and boosters funding their opportunities. This move follows his previous advisory roles with firms like Altius Sports Partners and his involvement with an Ohio State-focused collective, demonstrating his continued engagement in shaping the future of the sport from off the field. The personal nature of the partnership was also highlighted, with Meyer noting his son, Nate, has recently joined the firm.

A New Safety Net in a Volatile Market

While Higginbotham’s launch is significant, it enters an emerging market where other players have begun to offer similar protections. Firms like Players Health, in partnership with Zurich, and NFP's Sports and Entertainment Group have already introduced policies aimed at protecting NIL contracts from injury-related disruptions. The key distinction for Higginbotham is its comprehensive, integrated approach and the high-profile backing of Meyer.

"This isn't a one-lane product," explained Shiraz Rehman, Higginbotham's Vice President of Sports & Entertainment. "NIL touches availability, contracts and reputation, and it changes how programs and partners plan. Our Sports practice is a vertical that gives clients access to products across Higginbotham's portfolio, so they can approach their risks with a more comprehensive view."

For student-athletes, these insurance products offer an unprecedented layer of financial security. In an environment where their earning potential can be tied to their health and public image, coverage for disability or reputational damage provides a crucial backstop. Some top-tier athletes are already using their NIL earnings to independently purchase loss-of-value (LOV) policies to protect their future NFL or NBA draft stock, indicating a clear demand for such financial instruments.

For the donor collectives that form the backbone of the current NIL ecosystem, this insurance is a tool for survival. It allows them to protect their substantial investments and ensure they can fulfill their contractual promises to athletes, fostering a more stable and reliable marketplace. In a landscape defined by a patchwork of state laws and the absence of federal oversight, financial products like insurance are stepping in to provide the structure and security that the regulatory environment currently lacks. As money continues to pour into college sports, managing that money—and its associated risks—is becoming the new championship game.