Insuring for your success

It can be difficult to predict how successful a competition or promotion will be. We offer indemnity insurance to work alongside your prize, promotion or contractual bonus campaigns.

Money and success can go hand-in-hand in the entertainment and sports sectors, with successful performance often bringing significant financial gain. You can even boast higher sales figures with promotional offers such as ‘buy one get one free’ or greater customer engagement through generous prizes offered.

But what happens when the improbable becomes possible and the ‘winner takes all’? Gallagher is here to insure for your success and prepare for potential worries such as over redemption or a ten-thousand-to-one-chance lucky win.

How does prize indemnity insurance work?

Prize indemnity insurance is an effective way to offer prizes of substantial value without the need to be responsible for the pay-out should the prize be won. Instead, the insurance policy reimburses the prize value. In a similar way, if you are running a promotion and the uptake is much greater than anticipated, over-redemption insurance can indemnify you.

For organisations who offer performance-related bonus payments to sports teams and players, contractual bonus insurance can act as a contingency plan to protect against the risk of high pay-outs.

Having these types of contingency covers in place can not only protect your organisation’s cash flow but also help you maintain your reputation as a reliable promoter or sponsor.

Why choose Gallagher for prize indemnity cover?

We place risks from over 50 countries and adapt our offering across multiple international jurisdictions—utilising our strong relationships with underwriters within the London and international markets. We place risk on an insurance, reinsurance, exempt or non-admitted basis, or even through ‘off-shore’ providers where the need arises.

Whether it’s a hole-in-one prize, a special offer on a new product, or a performance-related bonus pay-out, we can assist you in securing cover. We will deliver an indemnity insurance quote that enables you to run your promotion, reward your winners, and connect with your audience—all with greater confidence.

Some of the types of competitions we work with:

  • Lotteries
  • Spin the wheels
  • Envelope picks
  • Scratch cards
  • Game shows
  • Safe crack games
  • Dice rolls
  • Hole in one
  • Crossbar challenge
  • Half-court shots
  • Other games of chance or skill

As a broker with specialist expertise in the entertainment and sports sectors, we will work to secure adequate cover at a competitive premium, whether you are running a probability-based or skills-based promotion.

If you do need to make a claim, you can be confident in our in-house claims team, who will help to ensure the process is as smooth as possible and you are reimbursed quickly for your prize value or over-redemption costs.

Prize Indemnity Insurance

  • Industry-specific contingency covers
  • Specialist wordings and products available
  • Worldwide cover
  • In-house claims team