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Prize Indemnity Insurance
What is Prize Indemnity Insurance?
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.
What is a hole in one in golf?
In golf, a hole in one or hole-in-one (also known as an ace, mostly in American English) is when a ball hit from a tee shot finishes in the cup. This awards the player a score of one for the hole. Holes in one most commonly occur on par 3 holes, the shortest distance holes on a standard size golf course.