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These days, plenty of golf tournaments draw big crowds (and big bucks) when featuring hole-in-one promotions. Despite the relatively tiny success rate—the odds of an amateur golfer hitting a hole in one are about one in 12,500—players nevertheless line up for their chance at glory and, of course, those fabulous cash prizes.

Anticipating nearly all of these optimistic contestants will go down swinging, tournament organizers realize that even one ace in the hole will cost them dearly. So they take out insurance and hope to avoid using it. Enter Kevin Kolenda, the 56-year-old proprietor of a business that insures such hole-in-one prizes.

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