Don’t get tricked into becoming a silent partner.
I know guys that have been promoting MMA shows for years, we’ll call them “Friendly Promotions”, yet they buy the insurance for their shows from another promoter, we’ll call them “Liar Promotions”.
You can get an insurance policy for 10 shows for about what Liar Promotions charges other shows for one event. He isn’t doing you a favor, I’m not sure if it’s even legal. In fact, it isn’t, you have to be a licensed insurance agent to sell insurance, and it’s definitely illegal to allow someone else to use insurance that’s in your name for their event.