Don't let a winner take you for a loss!
Acer's Golf Hole-In-One Association (AGHIOA) assumes a liability to meet the cost of any hole-in-one prizes won at your tournament and this liability is insured with an A.M. Best A – rated insurance carrier. The "A" is the highest quality rating available.
When you host a golf tournament you may want to offer up a large financial prize, like a car or several thousand dollars in cash, to any person who makes a hole-in-one. But rather than taking on the risk of paying a contest winner out of your own pocket, you would secure prize indemnification coverage (also known as hole-in-one insurance) in exchange for a small fee relative to the value of the prize. Then when a participant does win the hole-in-one contest, the coverage provider would pay the claim, subject to the terms and conditions of the coverage.
The Good People Foundation is running its annual golf outing with 100 golfers. They decide to hold a hole in one contest on #2, a hole that measures 160 yards. Any golfer who successfully makes a hole in one there will be awarded $15,000. Prior to the event, The Good People Foundation purchases a contest coverage package from Acer’s Golf Hole-In-One Association for $252. When Bob and Sue both make an ace on #2 during the event, they are both awarded checks for $15,000. However, because The Good People Foundation purchased hole-in-one coverage, Acer’s Golf Hole-In-One Association pays each winner $15,000. And The Good People Foundation only paid $252.00!
All names and circumstances in the above example are fictional. Any names or circumstances that are the similar are purely coincidental. This is meant for example purposes only.
If you're ready to get started in setting up an exciting hole in one contest, here is what you need to do:
Yes, there are very specific witness requirements outlined in your Coverage Terms & Conditions. Acer’s Golf does not provide nor do we arrange witnesses for events. You are required to arrange for witness per the Coverage Terms & Conditions