Entertainment, Sports & Events Cluster

Prize Indemnity

As a company with a contractual liability to award a winning prize or contract bonus, one that’s usually way beyond your budget, you need iTOO's Prize Indemnity Insurance. This specialised insurance means you can dangle a carrot in any shape, form or colour, whilst still keeping the rest of your business growing. If the numbers align, the ball goes in or the odds actually win, you need prize indemnity that’s expertly gift-wrapped.

Forms & Downloads

Prize Indemnity Insurance Proposal Form

This is the form that needs to be completed when you have a contractual liability to award a prize

Hole in One Proposal Form

This is the form that needs to be completed when you have sponsored a hole in one prize

Why get your Prize Indemnity covered by iTOO?

Leading service and forward-thinking expertise that’s always first prize.

If you’re a brand, company, sponsor or retailer offering promotions, competition prizes, contractual/performance bonuses to sports professionals or teams, then iTOO’s Prize Indemnity Insurance cover is exactly the win you need. Whether it’s a competition based on skill or pure probability, make sure the odds are always in your favour with a cover by the market leaders.

Prize Indemnity Insurance cover includes:

  • Hole-in-one putting competitions
  • Putting competitions
  • Tagged fish competitions.
  • Pick an envelope competitions
  • Online promotions or sports predictors.
  • Promotions linked to sporting achievement.
  • Contractual bonuses for athletes and teams.
  • Sports half time challenge promotions.

We are different

At iTOO our industry knowledge and service professionalism gives us the edge over our competition. Not only is this specialised cover designed to include a range of competitions, but we can also underwrite any promotion linked to a specific result, driving sales whilst protecting your income should the targeted result materialise.

Claim examples

Scenario

A putting competition, amongst three finalists, where the first player to sink a 20m putt wins a R100 000 prize.

Scenario

A national sports team makes it to the semi-finals or finals. In doing so they receive a team bonus amounting to several million Rands.

Scenario

A Comrades Marathon record is broken, allotting the runner a R1m prize.

How to claim

Our emergency incident response hotline is available on:

011 351 5000 or ITOONewClaims@itoo.co.za

You’re in the hands of an expert. You can always be assured of professionalism, quick turnaround times and world-class technical knowledge. We’ll keep you in the loop every step of the way. Simply send us an email detailing your claim and our claims department will contact you for specific details.

Prize Indemnity Contacts

FAQs

Is there anything specific that I as a broker or client should know or do before getting cover for a promotion?

Yes, we need all of your competition or promotion details, including your sales targets and historical sales records.

Can I cover any competition?

No, not all competitions can be covered, we need statistics, probabilities or historical data to enable us to underwrite it.

How does your promotions cover work?

We can underwrite any promotion linked to a specific outcome that can drive sales as well as protect the income of the promoter in the event the outcome materialises. We can work with your or your client’s marketing arm to structure the competition and determine the prize or bonus.

Can the prize be linked to the weather rather than games of skill?

The prize can be weather outcome based.