What is Prize Indemnity Insurance? 

For companies such as pubs, hotels and clubs, holding prize nights can be a great way of creating awareness, increasing patronage and revenue. Prize draws are commonly used to promote a business and can be a creative way of increasing customer engagement , however, the impact of the promotion can be limited by the amount of funds you have to invest towards the offered prize. A prize indemnity policy is a type of insurance that you can purchase to insure against the cost to you of someone winning a prize.

Prize Indemnity insurance covers* your cost of paying the value of a prize to a third party, allowing you to insure against the risk of the prize your business is promoting at your event, venue or as part of a competition being won. Premiums on prize indemnity insurances are calculated based on the prize value and likelihood of a win. Typically, the higher a prize value or the chance of winning is, the higher premium is likely to be.

Apply Online for a quote or contact one of our friendly, experienced brokers for more information.

*Subject to policy terms, limits and exclusions 

Why choose to arrange your Prize Indemnity Insurance through Aon?

Our brokers specialise in arranging insurance for the entertainment industry and can help you understand your prize indemnity insurance options so you can make confident decisions about the type of cover you choose for your business needs. In the event of a prize win, if you have to make a claim, our team can help advocate on your behalf with the insurers and assist through the claims process.