Tysers Insurance Brokers | Prize Indemnity and Over-Redemption

Prize Indemnity Insurance


We have a vastly experienced team who have worked for many years on a multitude of prize related contests and risks.

Prize Indemnity Insurance is one of the most flexible insurance products and policies can be tailored to fit any organiser’s promotional budget.

These insurance programmes can enable manufacturers, promoters, contest and event organisers to offer major prizes for a premium equating to a fraction of the prize value.  These not only protect a promoter’s budget but also attract customers to their organisation. This affords companies and organisers of a contest “Balance Sheet Protection” against fortuitous winners or unexpected scenarios.

Promotions and contests can be designed on a pure mathematical basis:

  • Free to play or secondary lotteries where the jackpot prizes offered or are at risk exceed the income generated
  • dice rolls
  • envelope picks, money bag or number picks
  • wheel spins
  • Safe Cracks

Or on a statistical basis using, for example, weather data or sporting statistics. Contests can offer consumers prizes or cash backs for:

  • White Christmas’
  • Record temperatures or snowfalls
  • Perfect Games or No Hitters
  • Nominated countries or teams winning international or national trophies, such as World Cups, Olympic Medals.

Contests can be skill based. These can include:

  • Golf – Hole-in one
  • Snooker – 147 break in snooker
  • Bowling – perfect 300
  • Television game shows

Oversight and security are critical in these types of events and we can help with the organisation of this to ensure events run smoothly, therefore accelerating any claim process in the event of any winners.

The types of risk shown are only a few examples; there are almost no boundaries as to what can be insured using a prize indemnity insurance policy.

We work with organisers, promoters and sponsors of all of the above and more.

Over-Redemption Insurance is commonly used in the sales promotion industry when organising ‘Below the Line’ promotions. The insurance is designed to protect a manufacturer or promoter in the event that redemptions in a Sales Promotion campaign exceed the expected and budgeted levels.

This provides balance sheet protection enabling promoters to plan for future campaigns and promotions without the worry of an unforeseen financial catastrophe.