Prize Indemnity

Help your clients stand out from the competition with prize indemnity insurance that allows them to offer a large prize, risk-free, for a premium that is a fraction of the prize value (in situations where the prize is not guaranteed).

Highlights

Creative and budget-friendly
Supports business objectives and brand
Backed by an insurance carrier (not just a prize contract)
Fast, in-house claims service

Target Insureds

Athletic organizers
Event organizers
Integrated marketing agencies
Nonprofit organizations
Retailers
Sponsors / promoters

Summary of Coverage

Promotions and games can be effective business-building tools, but they also introduce financial risks. Prize indemnity insurance helps protect against those risks, by covering contingent prizes on behalf of sponsors or promoters. Tokio Marine HCC - Specialty Group's prize indemnity insurance allows the sponsor, promoter or organizer to offer a large, risk-free prize for only a fraction of the cost. Some examples include probability-based prizes such as drawing the correct envelope, dice rolls or spinning a wheel, and skill-based prizes such as sinking a 60-foot putt, shooting a basketball from half-court or making a field goal from a certain distance.

Our comprehensive promotional insurance portfolio, and decades of insuring thousands of promotions and games, makes Tokio Marine HCC - Specialty Group the right choice for all types of clients and promotional events. Our winning combination of products, experience and expertise equips us to rapidly develop unique, creative and budget-friendly insurable promotions that precisely support a client’s business objectives and brand.

TotalEvent® Insurance Online

Games of skill for sporting related contests can be purchased online through TotalEvent® Insurance Online for premiums as low as $150. These skills-based contests include basketball half-court shots and parlays, football tosses and field goal kicks, hockey slot shots, and golf hole-in-one and putting contests. The TotalEvent® system provides you with a fast and easy-to-use quote and bind system that also acts as an electronic database to assist in managing your specialty business. Both brokers and direct customers can access TotalEvent® by clicking the portal link in the top right-hand corner of the page.

Game of Chance Bonds

Game of chance surety bonds (promotion sweepstakes bonds) are required in Florida and New York for any game of chance promotion with a retail value over $5,000.

Retailer Promotions

Tokio Marine HCC has put together insured prize promotions specifically for the retail industry to help increase sales over a specified period of time.

Over-Redemption

Over-redemption insurance protects sponsors and marketers against an unexpected result of their promotion.

Why Tokio Marine HCC?

Tokio Marine HCC is a leading specialty insurance group with offices in the United States, Mexico, the United Kingdom and Europe, transacting business in approximately 180 countries and underwriting more than 100 classes of specialty insurance. Our products and capabilities set the standard for the industry, and many of our almost 3,000 employees are industry-leading experts. Each of our highly entrepreneurial businesses are equipped to underwrite special situations, companies and individuals, and acts autonomously to deliver effective solutions.