Prize Indemnity Insurance

Details & Facts

With Prize Indemnity Insurance, you can offer and promote a large prize for a fraction of the value!

An insured promotion enables the promoter or sponsor to accurately budget for the cost of the prize and protects the company's balance sheet from any unnecessary liability. It allows the Promoter a way to offer a risk-free large prize for a fraction of the prize value.

Types of Insured promotions and games include: Scratch & Win, Collect & Win, Match & Win, Predict & Win, Sweepstakes with a “Kicker” and Skill Competitions.

HCC Specialty understands promotions and is comfortable working within the constraints of deadlines and budgets. Our staff of experts knows how to make the most of your promotion ideas. We take pride in providing our clients with outstanding service and a creative approach to marketing and promotion issues. We'll show you how to structure, fund and execute high-level prize promotions and do it without surprises.

We can help you turn a five-figure budget into a seven-figure prize pool with prize indemnity insurance. To read about our case studies, click here.

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Our Over Redemption Insurance protects the promotion budget in case the offer is so irresistible that it succeeds beyond your expectations.

Over Redemption Insurance can be a valuable tool that not only allows you to cap your exposure, but can protect you from a catastrophic loss. With this insurance, you do not have the uncertainty of how much you will have to pay in redemptions because the insurance will cap this unknown liability.

Redemption risks can be difficult to assess. There are no actuarial tables that measure consumer response, and no two programs are the same. It takes experience, expertise and in-depth detailed knowledge of the promotion business. It takes HCC Specialty.

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Prize Annuities:

Q: When is $1 million not $1 million?
A: When it is paid as an annuity.

If your promotion has a million dollar winner and the rules call for the prize to be paid over a period of years, HCC Specialty is the place to turn when it is time to purchase the annuity. HCCS has worked with its AAA Rated carrier to address the constructive receipt rules so that your winner will not have to pay taxes on the value of the entire prize within the first year. This winner-friendly structure of the annuity maximizes the PR boost from giving away the big money.

Call us now at 800.927.6306 to get started or simply send us an email at [email protected]. We’d love to hear from you!