The Tournament Fishing Association of Dallas requires an application giving tournament data including its title, site, dates and species of fish to be covered. Specifics on the prize value and specified weight on Specified Weight events and number of tagged fish and the number of the tag identifying the jackpot winner and area of lake or stream are statistics needed to rate and underwrite the coverage. This entity also provides a market for other contingent risks such as weather, performance and appearance contracts. Due to the diverse nature of prize programs other than golf and fishing, applications of each contest and event are customized in a narrative description, and coverage terms are negotiated individually for each specific risk under surplus lines contracts. Sports promotions Sports promotions are attractive contest events for auto dealers, nonprofit organizations, special event directors, radio and TV stations, insurance agents, sports franchises, marketing agencies and universities and colleges.
Most insiders wish to sponsor sizable prize contests as marketing promotions.
The risk of loss is transferred under an insurance concept to the underwriter, making the marketing promotion expense more predictable and affordable. The extremely high prize values insured at reasonable premiums draws both contestants and media attention which leads to an attractive sponsorship activity. Small prizes are awarded for the shorter goals and the jackpot is reserved for the longest. Other versions are punting into the bed of a pickup truck at 35 yards, or tossing a football at a target from 20 or 25 yards away. Another contest gives the jackpot and auxiliary prizes for five three-point shots within 25 seconds.