Prize Indemnity insurance provides protection to companies and organizations who offer large prizes, such as a car or a vacation, as part of a promotion or contest.
This insurance helps to cover the cost of the prize in case it is awarded to a winner, reducing the financial burden on the company.
With prize indemnity insurance, the risk of paying out large prizes is shifted to an insurer, giving the company peace of mind and enabling them to offer attractive promotions to their customers.
