- Contractual Bonus Insurance
Athletic team owners periodically offer monetary incentives for achievements. These may be for individual players, coaches, and/or the entire teams. An achievement may be getting to the playoffs, being named most valuable player, setting a team or a league record, or similar lofty goals. These achievements are usually quite unpredictable. For this reason, insurance is available to pay out the bonus if and when the condition is met. This coverage is available to athletic teams as well as to advertising firms and corporate sponsors that might enter into similar arrangements with athlete spokespeople.
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