Event cancellation and abandonment insurance
What is it?
Cancelling an event is something no organiser wants to face however circumstances can arise which are beyond your control. In recent years we have seen large scale floods, volcanic ash cloud, riots and strikes, all of which would have had a significant impact on events.
JMM’s cancellation and abandonment insurance covers your loss of irrecoverable expenses due to necessary and unavoidable cancellation, disruption, curtailment, postponement or abandonment of your event. Expected profit can also be insured. Some common reasons for cancellation and abandonment include non -appearance of principal artists or guest speakers, closure of the venue due to fire, storm, flood, electrical failure or denial of access to the venue by the emergency services. Our cancellation cover protects you from unforeseen events beyond your control.
What does it cover?
Cancellation and abandonment insurance will help protect the financial investment you have made in the event in two main areas:
- If a problem arises and you incur additional expenses to keep your event running – for example if you need to source an alternative venue at short notice.
- If you’re forced to cancel or abandon the event.
All policies are based on your needs and are tailored to the type of event and what you would like covered. Some options are below.
- Protect your profits in the event of cancellation or abandonment.
- Dramatically reduced attendance where a significant number of visitors are unable to attend due an event beyond their control such as a transport strike or extreme weather.
- Terrorism cover.
Of course no insurance can cover everything so we do have some things we can’t cover including
- Lack finances due to insufficient ticket sales or sponsorship or exchange rate fluctuations
- Financial failure such as a major supplier or contractor’s business failing
- Known circumstances i.e. things you know about at the time of organising the event
We can offer coverage for events in many countries around the world.
Who needs it?
We recommend anyone who is holding an event to take out insurance as it is protection you can’t afford to be without. For an obligation free discussion about your requirements please Contact us.