View this article online: https://www.insurancejournal.com/news/east/2016/07/21/420851.htm

BUA Launches Prize & Promotion Insurance Services, Taps Woodbury to Lead

BUA, LLC of Portsmouth, N.H., has launched Prize & Promotion Insurance Services (PPI). PPI will be led by 25-year industry veteran, Jack Woodbury.

PPI will focus on three main promotion insurance product lines:

• Prize Indemnity Insurance covers prizes that are offered as part of many consumer promotions, including:
  • Skill contests (i.e. basketball shots, field goal kicks, etc.)
  • Games of chance (i.e. lotteries)
  • Prediction contests (i.e. bracket challenges, fantasy sports games, etc)

• Over Redemption Insurance provides financial protection for a brand in the event that a promotion is more successful than originally anticipated and/or budgeted for.

• Contractual Bonus Insurance protects a brand that has an endorsement contracts with an athlete in the event that the athlete meets certain contingent performance incentives that are often included those endorsement contracts.