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    Contingency

    Prize indemnity

    Beazley has developed a range of prize indemnity policies, designed to help event organisers offer promotions and prizes that add excitement to their events.

    When an event organiser offers a prize to anyone who successfully completes a specified task, our prize indemnity product covers the cost to the organiser should the prize be won.

    An example of this was when we provided cover to a popular morning radio show in Sydney, Australia for their $1m Dawn Dig competition on Bondi Beach. One lucky listener had to dig up as many bags as they could in 30 seconds out of a total of 250 buried in the sand and hope that one of their selected bags contained the $1m ticket. The first bag found by the listener contained the winning ticket. Our prize indemnity policy covered the prize money for the radio station.

    Beazley and Altamont form distribution agreement for contingency products.