Prize Indemnity

Prize indemnity coverage protects you against the contractual obligation and helps to reduce risk when a large prize is awarded.

Explore our Geopolitical Risk Snapshot 2024

What we offer

Beazley has developed a range of prize indemnity policies, designed to help event organizers offer promotions and prizes that add excitement to their events. From hole-in-one and roll-a-dice, to cross bar challenges and envelope picks.

We are happy to work with your clients to create a tailored promotion which fits their budget.

Games of Skill - Prize indemnity cover for hole-in-one, half-court basketball attempts, football tosses, and other sporting related contests.
Games of Chance - Prize indemnity coverage for lottery and other mathematical games such as spin-the-wheel, dice rolls, etc.
Over Redemption - Insurance protection promotions that end up with higher success rates of activation than reasonably anticipated and budgeted for

How can we help

Our underwriters can design bespoke products to satisfy our clients' exact requirements and budget.

Limits

Up to $10 million

Terms

Non-Admitted
Open for all worldwide events and US-based insureds
New York free trade zone capability
Texas Large Risk Exemption capability

Who we can help

Media and advertising agencies
Sponsors
Sporting events
Charity events
Game shows
Retail promotions
Brand manufacturers
Non-profit organizations

The Beazley Difference

BEING BOLD

Freedom lies in being bold. We dare to be different and seek bold possibilities to create more innovative, fair and satisfying outcomes for our clients, brokers and employees. From insuring the highest building in the world, to the first commercial lunar vehicle to operate on the moon - we boldly go where others won’t.

STRIVING FOR BETTER

Good is a start, but we go all-out for better. A driven community of individuals relentlessly push the needle and creating value. From launching the market’s first dedicated ESG syndicate to the establishment of our business unit focusing on designing digital insurance solutions, we pride ourselves on always going above and beyond. Simply put, at Beazley we go to 11.

DOING THE RIGHT THING

Acting with integrity in a straightforward, decent way is instinctive. Open and honest with others, we show respect and empathy however challenging the situation – demonstrated by our multi-award winning claims team. Doing the right thing makes for a fair-minded, rewarding environment and makes work and life better for all.