Contractual Bonus
Contractual Bonus
Sports organizations and corporate brands make large investments in their athletes. Ensure that the most value is received out of these deals by leveraging sponsorships of sporting teams, leagues, events, and athletes while knowing that the bottom line is always protected.
Why You Need It:
- Incite improved performance from individuals and teams
- Achieve heightened brand exposure through affiliation with winners
- Increase the likelihood of individuals and teams reaching milestones and creating a positive association with your brand
- Effective management of financial risk, allowing capital to be used for multi-year incentives
Example Applications:
- Consumer promotions
- Corporate sponsorships
Scope of Coverage:
Contractual bonus insurance is used to cover bonuses paid to athletes, teams and competitors when they achieve specific performance goals, which typically are part of contract negotiations and marketing sponsorship programs. This insurance cost is determined by many factors related the team/competitor(s), including (but not limited to) performance history, injuries and the likelihood of achievement. By securing insurance for a contractual bonus, exciting incentives can be used to motivate and inspire athletes to perform at their highest potential.
