You are involved in a competition that rewards sporting achievements, a display of dexterity or pure good luck. Prizes could be cash prizes to articles of value ranging from new cars or new golf clubs.
KEU has developed Prize Indemnity insurance for both sports contests with active participants and chance wins by non-participants. Over the years of servicing this niche market, our product encompasses the right cover to ensure that you can hand over the prizes on offer.
The rates for this cover depend on the number of golf rounds, how many participants in the tournament, the distance between the tee and the hole and the skill of participants.
A proposal form will be required.
Athletes push their bodies to the limit and have an innate ability for self-motivation. But they also need to be rewarded if they break existing records or exceed a standard laid down for a particular discipline.
KEU's incentive bonus insurance gives them an added motivation to break that South African or world record.
Performance bonus covers
If your company is involved in sports sponsorship, this may also extend to a contribution to performance bonuses of the team or individual athlete. Aside from the excitement of your team or sportsman's achievement, KEU's performance bonus insurance covers your contribution to the performance bonus.
Guessing games are the basis of chance wins, which are common in competitions. Entrants typically guess the correct sequence of numbers or select a "lucky" box to win prizes, which is usually based on an actuarially calculated formula.
KEU's Prize indemnity insurance is also available for soccer or rugby goal contests,