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Borussia Dortmund football club has an insurance policy to recover most of the income it is losing for failing to qualify for the Champions League. (charnsitr/Shutterstock.com)

(Bloomberg) — Borussia Dortmund is using an unusual insurance policy to recover most of the income it is losing for failing to qualify for European soccer’s elite Champions League for the first time in five years, according to two people with knowledge of the arrangement.

Germany’s only publicly traded soccer club is in the third year of an insurance contract that protects against lost revenue from missing the tournament, said the people, who declined to comment publicly as the details are confidential. The deal has about 12 underwriters led by Catlin Group Ltd. and XL Group Plc, they said.

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