Philadelphia Eagles Player First NFLer to Collect From Loss-Of-Value Insurance Policy

Philadelphia Eagles offensive lineman Chance Warmack will become the first NFL player to collect on a loss-of-value policy. Warmack took out an insurance policy that would have him collect if his second contract in the NFL was less than $20 million, sources told ESPN.
Warmack, the 10th pick of the Tennessee Titans in the 2013 draft, got a one-year deal from the Eagles worth $1.5 million last year, which triggered the policy. Sources said Warmack filed to collect and was informed by Lloyd’s of London this week that he would receive the maximum payout of about $3 million.