event cancellation insurance News

Failed Fyre Festival and a Lesson in Events Insurance

Already facing numerous lawsuits, Fyre Festival organizer Billy McFarland was arrested on federal charges last week. The government alleged he defrauded investors who bought into Fyre Media Inc., the New York-based company behind the music festival which collapsed so spectacularly in the Bahamas a few months back. But the fiasco’s …

Beazley Adds Inability to Attend Coverage to Event Product Suite

Beazley, a specialist in event cancellation insurance, has partnered with Rainprotection Insurance to offer event organizers protection against the handling of processing ticket refunds for attendees who are no longer able to attend events that are not cancelled or delayed. …

Dale Underwriting Offers Contingency & Sports Personal Accident Cover; Syndicate Support Extended

Dale Underwriting Partners, managed by Lloyd’s third party managing agency Asta, announced the creation of a new contingency and sports personal accident business. The team will be led by Martin Lawson, who will be joined by Richard Appleton. Both are …

Beazley Offers Revenue Protection Cover for UK Events Hit by Wet Weather

London-based insurer Beazley has launched “Cancellation Plus” for the event industry in the United Kingdom, offering event organizers revenue protection for reduced ticket sales and concessions when a specified amount of rainfall occurs at their event. Beazley said it provides …

Beazley Expands Event Cancellation Coverage for Political Violence, Terrorism Incidents

Beazley, a provider of event cancellation insurance, has expanded its terrorism and political violence event cancellation insurance for the sports, entertainment and leisure industries in the U.S. to include riots, civil commotion, strikes, the threat of a terrorist act and …

Zika Virus Could Make Scoring Event Insurance More Difficult

Fears over the spread of the Zika virus are likely to dampen the Summer Olympics set for Rio de Janeiro in August and other summer events. The virus could also make it more difficult for summer event organizers to find …

Beazley Launches Combined Event Cancellation Coverage

Beazley has introduced Cancellation Plus, an endorsement that combines event cancellation coverage with protection for reduced ticket sales and concessions in the event of poor weather depressing event revenues. Beazley provides cancellation coverage for thousands of events annually, including many …

Rio Olympics Will Proceed – Despite Zika Epidemic: Munich Re Underwriter

Should the Olympics proceed in Rio de Janeiro in August as planned? With the lighting of the torch set to take place in less than three months, a handful of medical experts are calling for the games to be postponed …

Zika Exclusion Now Commonplace in Cancellation Cover for Latin America Events

Organizers of rock concerts and conferences in Latin America or fringe events at the Rio Olympics beware: if you still need insurance to cover cancellation due to the Zika virus, it’s probably too late. The International Olympic Committee (IOC) should …

World Cup Insurers Face Many Claims, Disputes Over Russia, Qatar

World Cup insurers are likely to refuse to pay out on many cancellation contracts if Russia and Qatar lose the rights to hold the tournaments because of fraud, industry experts said. Russia and Qatar could be stripped of their World …