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.