Highmark Renews USOC As Insurance Supplier Sponsor, Allstate Out As Official Insurer
Highmark has renewed its agreement as the official insurance supplier of the USOC. The company extended its deal through ‘16. Financial terms were not available. Highmark has historically been a USOC supplier and those deals are valued at $3-10M over four years. Under terms of the agreement, Highmark will provide health insurance to the USOC, Team USA and the U.S. Paralympic team.
ALLSTATE OUT: Allstate plans to discontinue its sponsorship of Team USA, becoming the first USOC sponsor this year to forgo renewing its partnership. Sources said that the insurer made the decision before the London Games. The company has been the official insurer of the USOC since '02, and its deal was valued at $10-15M over four years. Allstate has done limited activation around the USOC in recent years. Its primary promotion of the sponsorship was centered on the U.S. Olympic HOF, of which it has been the presenting sponsor since '04. For more on Allstate's move, see this week's SportsBusiness Journal.