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Thread: AwardGuard coverage clarification
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Old Mar 24, 2003 | 7:14 pm
  #61  
gleff
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<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by Randy Petersen:
As I think they (PrivilegeFlyer) are the insured with what is known as Contractual Liability Insurance</font>
Don't know the details of this, and have never spoken with Randy about it, but I imagine this is analogous to a basketball team which runs a promotion: if a fan sinks a basket from center court, the fan wins $1mm.

Teams that offer that regularly take out insurance so that if the fan sinks the basket, the insurance pays. They pay the same premium either way. They can even root for the fan to come out on top, because nothing's coming out of their pocket either way...

That's how it sounds to me based on the description, but again I haven't looked into this.
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