Prize indemnity insurance is indemnification insurance for a promotion in which the participants are offered the chance to win prizes. Instead of keeping cash reserves to cover large prizes, the promoter pays a premium to an insurance company, which then reimburses the insured should a prize be given away.
Read more about Prize Indemnity Insurance: Hole-in-one Insurance, Motor Racing, Other Prize Indemnity Insurance
Famous quotes containing the words prize and/or insurance:
“I prize the purity of his character as highly as I do that of hers. As a moral being, whatever it is morally wrong for her to do, it is morally wrong for him to do. The fallacious doctrine of male and female virtues has well nigh ruined all that is morally great and lovely in his character: he has been quite as deep a sufferer by it as woman, though mostly in different respects and by other processes.”
—Angelina Grimké (1805–1879)
“In taking out an insurance policy one pays for it in dollars and cents, always at liberty to discontinue payments. If, however, woman’s premium is a husband, she pays for it with her name, her privacy, her self-respect, her very life, “until death doth part.””
—Emma Goldman (1869–1940)