Background
If you’re hosting a contest (such as a Hole In One) have you considered applying for insurance coverage? Foundation, Alumni, or Support Groups, Registered Student Organizations, and Tenant Users may apply on-line to obtain insurance coverage for the prize offering.
Contact Information
We’re here to help! Please contact us in whatever manner is most convenient for you.
Phone
Hours
M-F 8a-5p CST
Mailing Address
Campus-DV1
PO Box 14521
Des Moines, IA 50306
Street Address for Express Shipments
AMBA
4050 114th Street
Urbandale, Iowa 50322
Frequently Asked Questions
How are the rates determined for Prize Indemnity Insurance?
Rates are dependent on the type of risk but are generally determined by our underwriters, based on past promotions and the level of difficulty of the promotion.
How expensive is Prize Indemnity Insurance?
The three factors that determine the cost of Prize Indemnity Insurance are the level of difficulty of the promotion, the number of attempts and the prize value to be awarded. The higher the level of difficulty, the fewer the attempts, and the lower the prize value, the less expensive it will be.
How expensive is it to insure a One Million Dollar Prize?
The cost of a One Million Dollar Prize can be relatively inexpensive if the promotion is more difficult. Furthermore, a One Million Dollar Prize can be awarded as an annuity in 20-, 30-, or 40-year increments, or as a lump sum. Choosing to award a One Million Dollar Prize value as an annuity significantly reduces the present value and will decrease the premium as opposed to a lump sum payment.
How long does it take to get a quote?
In most cases, your quote will be instantaneous. However, in a situation where your event does not fit the standard criteria for an instant quote, an underwriter will be notified and will respond within 48 hours.
What insurance carriers do you use for Prize Indemnity Insurance?
Our Prize Indemnity program is Best Rated and we have non-admitted paper with AIG, Lloyd’s of London, and Houston Casualty Company.
Source: HCC Specialty Underwriters