The plaintiff attorneys will usually go after the deep pockets. I suspect in this case it will be MLF and their officers.
I am sure Flint Davis could be in financial jeopardy as well but I doubt he will have the assets that MLF and their officers have. The question is can MLF be held negligent ? There are plenty of personal injury attorneys that are looking into that . Punitive Damages are allowed in Alabama and can easily go over the limits of liability insurance. There were multiple people killed and injured . Alabama is a contributory negligent state which means that if both parties are at fault that it can limit a claim for liability. Most likely the only way the Captain could be negligent is if he was sitting in a fog bank without running lights. I am not sure if that would be enough. Did MLF have their participants sign a hold harmless agreement for the boaters negligence? In Alabama you can’t assign your own negligence away. Negligence is defined as is it the action a reasonable person would take? The big question is it reasonable to hold an event where you allow and motivate a hundred or more high speed boats to run in a crowded lake ? As far as settlements you have high earners that were injured and killed. Settlements are partially based on the loss of income to the families involved. Then there is the punitive damages.
I am sure other major tournament organizations such as BASS will be following all this closely. Will this affect tournament fishing formats in the future?

Before anyone says it, the human loss and the injuries are the worse part of this tragedy and I do feel and pray for everyone involved but the questions I raised are the reality of a situation like this.