Prize Indemnity Insurance

Prize Insurance and Fixed Fee solutions from WorlWide Special Risks have enabled companies to offer large prizes, rewards and incentives normally beyond their budget for the last two decades. Our Prize Insurance has been used by major global brands and small local businesses, all benefiting from our scalable approach. Often referred to as Promotional Insurance or Fixed Fee, our Prize Insurance range includes;

Prize Competition Insurance - prize insurance for companies looking to offer big prizes via skill, chance or response based mechanics. Includes lottery insurance, scratch card insurance, safe crack and roll a dice competitions.

Over Redemption and Fixed Fee Insurance - promotional risk management for volume coupons, rewards and incentives. Most commonly used for on-pack sales promotions and incentives.

Conditional Rebate - Cash Back incentives where refunds are linked to triggers such as snow on Christmas day, a Sports team winning a tournament.

Contractual Bonus InsuranceSports Bonus insurance for teams and sponsors who have contractual obligations to pay bonuses to teams and players, based on performance goals.

The promotional mechanics are usually based on a mixture of skill, chance and response, for example

  • Picking the numbers in a lottery competition
  • Choosing the winning symbols on a scratch card
  • Responding to a direct mail
  • Scoring a hole in one on a golf day
  • Hitting the cross bar at a football match
  • Cracking a safe at a promotional event
  • Redeeming an on-pack coupon
  • and more…

In return for an insurance premium WorldWide Special Risks will reimburse the promoter for the cost of prizes won or offers redeemed. Underwritten at Lloyd’s the world largest insurance market means we also provide first class security to ensure your peace of mind.

Our Client Category sections on the left menu host a variety of information and case studies for industries such as Sports, Automotive, Retail and Brands, Gaming and Lottery, Media (TV, Radio, Print), Sport and Fundraising or types of promotion including New Media and Direct Marketing to see which solution you require.

We’d also be delighted to hear from you and our team of consultants are ready and waiting to answer your questions… just call +44 01727 843686 to speak to us today!

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WorldWide Special Risks is Authorised and Regulated by the Financial Conduct Authority in the United Kingdom.