Prize Indemnity Insurance
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Summary of Coverages
Prize indemnity insurance covers contingent prizes on behalf of sponsors or promoters. This promotion protection insurance allows the offer of a large, risk-free prize for only a fraction of the cost. Get a prize
indemnity insurance quote from ESP Specialty today.
Provides prize indemnity insurance for dice rolls, spin-the-wheel, the lucky envelope game, and other similar games.
Provides prize indemnity insurance for sporting-related contests, including basketball half-court shots and parlays, football tosses and field goal kicks, hockey slot shots, and golf
putting or hole-in-one contests.
Contractual Bonus Insurance is purchased mostly by corporate sponsors to give professional athletes an additional financial incentive in their contract to achieve a certain result. Transfers the risk of the earned bonus to a prize indemnity insurance policy.
Allows golf businesses and events to offer a prize for putting or hole in one contests and mitigates the cost impact of potential payouts.
Allows a marketer/sponsor to transfer the risk of a coupon or other offer. Our coverage allows sponsors to protect themselves against unexpectedly high coupon redemption.
Also known as game of chance surety bonds, are required in Florida and New York for any game of chance promotion over $5,000 in retail value and must be bonded and registered with the appropriate office. Rhode Island requires only a registration for any retail promotion over $500. No other states require these promotions to be bonded.
Target insureds include integrated marketing agencies, retailers, athletic organizations, golf courses, and nonprofit organizations. Standard limits vary by promotion. Limits available up to $10 million. Minimum premiums are subject to risk purchasing group program restrictions only. Available worldwide.