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Prize Indemnity
What It Covers
Your liability to pay a cash prize to the winner of a predefined prize draw.
Who It's For
Businesses, radio stations, community/sports clubs, charities, not for profits, schools, community groups, and any other entity that wants to boost their marketing and/or fund raising efforts by offering the chance to win a large prize.
Where It's For
Some prize draws can be run in just about any location because no external supervision is required to verify the insured prize has been won. Other prize draws require an assessor, appointed by us, to be on site for the duration of the draw, in which case the location of the prize draw needs to be within a few hours driving distance of a capital city or major regional centre.
Altamont can insure events that take place anywhere in the world (excluding Lloyd’s sanctioned countries) as long as the Insured is domiciled in Australia or New Zealand.
Example Prize Draws
- 1 in 100 lucky envelope draw (or 1 in 50, 1 in 25, etc)
- High Fives card draw (also called a ‘5 in 40’ card draw)
- 5 in 12 card draw
- Chocolate wheel / prize wheel spin
- Crack the safe / Code breaker
- Dice roll / 6 sixes
- Sporting competition ladder pick
- Kick for cash /Kick to win (rugby/football/soccer kick)
- Half court / Full court basketball shoot or netball goal