economics

Broken Sneakers and the Little-Known World of Loss of Value Insurance

Broken Sneakers and the Little-Known World of Loss of Value Insurance

It was the sneaker blow-out heard around the world, or at least around the United States. On February 20, 2019, in front of a packed house at Cameron Indoor Stadium that even included former President Barack Obama, Duke basketball’s freshman phenom, Zion Williamson, went down. When Williamson stepped awkwardly, his foot tore through his Nike sneaker, bringing him to the hardwood with a sprained knee. The crowd, which only a few moments earlier was loud with excitement at what promised to be a riveting Duke vs. North Carolina basketball game, fell silent. The faces in the crowd expressed a combination of fear and concern: fear that Duke’s season could be over, but also concern that they may have witnessed the end of a promising career.