Contingency Insurance provides protection against the following types of risks (including, but not limited to):
Event Cancellation, protects against event being cancelled,postponed, interrupted or abandoned:
- Indemnifies the insured for related losses, incurred costs or loss of revenue
- Trade shows, music and film industry,sporting events and the like
Enhancements: National mourning, communicable diseases, war & terrorism.
Prize Indemnity, protects in the event of a promotional prize being won:
- Indemnifies the insured when a prize is won.
E.g. ice hockey, basketball shoots, lucky envelope picks, etc.
- Any sponsor or manufacturer who has potential liability to pay a prize or a bonus
Over-Redemption, protects when a product promotion is more successful than anticipated:
- Indemnifies the insured for their additional costs, should a promotion redeem higher than anticipated
- Manufacturers of FMCGs who arrange promotions on pack, at point of sale, via coupons, online sales etc.
Other types of coverage/enhancements that we can consider are:
- Death or disgrace
- Sports sponsorship indemnity
All coverages offered can be tailored to meet the insured’s specific needs