Overview
Offer bonus incentives to your players, teams, or executives for excellent performance on the biggest stages. If they fulfill their end of the contract, our contractual bonus insurance policy can save you from taking a financial loss. We’ll work with you to create a program that motivates and inspires your best people to be even better. If they reach their goal, it's a win-win situation. They win by receiving an attractive bonus, and you win by reaping the rewards of their improved performance.
With our support, that reward won’t adversely impact your financial performance for the year.
Highlights
- Covers a corporation or a firm’s contractual obligation to award contingent bonuses to athletes or entertainers for achieving certain milestones outlined in their contract
- Policy term and limit can vary to match the exposure of the buyer
- Terms, conditions and exclusions are flexible to match the terms of the contract
Best for
- Corporate sponsors
- Entertainment companies
- Film studios with budgets of $10 million and more
- Production firms
- Sports teams
Summary of coverage
Contractual bonus insurance is coverage that is typically purchased by corporate sponsors, sports teams and entertainment companies to give professional athletes and entertainers an additional financial incentive in their contract to achieve a certain result. For example, a sponsor could offer a professional athlete an extra $500,000 for every major championship that they win. In this case, the risk of the additional $500,000 would be transferred to the insurance policy.
Companies can use Tokio Marine HCC's bonus performance coverage to offer bonuses that are off the charts to performers who stay on top of the charts. Use incentives to achieve superior performance, gain better visibility and build stronger revenues.
Documents & forms
Your team
Head office
401 Edgewater Place Drive, Suite 400
Wakefield, MA 01880
Why choose Tokio Marine HCC?
Tokio Marine HCC is a leading specialty insurance group with offices in the United States, Mexico, the United Kingdom and Europe, transacting business in approximately 180 countries and underwriting more than 100 classes of specialty insurance.
More about us Financial strengthNot all products, coverages, or features may be available in all states. Restrictions, exclusions, limitations, and conditions apply and you should see your agent for more information. Certain products and services are provided through non-admitted insurance carriers and are not subject to certain State Guaranty Funds.