Prize Indemnity
Mitigating Risks Associated with Prize Awards
Attracting participants with exciting prizes can elevate the appeal of any event. KEU’s Prize Indemnity Insurance Solution, available exclusively through insurance brokers, offers essential protection against the financial risks of awarding substantial prizes.
Tailored Coverage for Diverse Prize Types
Our Prize Indemnity Insurance Solution provides coverage for different prize categories, ensuring event organisers and sponsors are safeguarded from significant financial outlays.
Key Features & Benefits
Skills-Based Wins
Covers prizes awarded for achievements in skill-based competitions, such as a hole-in-one in golf or performance-based bonuses in sporting events.
Chance-Based Wins
Provides protection for prizes awarded in games of chance, including lucky draws, guessing games, and competitions where the outcome depends on luck, like safe combination contests or spin-the-wheel games.
Incentive Bonuses
Offers coverage for incentives provided to athletes or participants for breaking records, achieving personal bests, or exceeding previously set performance standards.
All insurance solutions are underwritten by Centriq Insurance Company Limited
Flexible and Tailored Coverage
Recognising that each event is unique, our Prize Indemnity Insurance Solution provides:
Financial Protection
Transfers the risk of prize costs to the insurer.
Enhanced Appeal
Attracts more participants and sponsors with enticing prizes.
Peace of Mind
Allows event planners to focus on the event, knowing financial risks are managed.
Understanding the Details
Proposal Requirements
A detailed event proposal is needed for underwriting purposes.
Coverage Limitations
Exclusions may apply, such as fraudulent claims or exceptionally high odds of winning.
Partnering with Brokers for Comprehensive Prize Protection
By working with experienced insurance brokers, event organisers can secure a customised Prize Indemnity Insurance Solution that transfers the financial risk of prize awards, ensuring their events and promotions remain financially secure.
