event cancellation insurance News

Coronavirus Leads Companies with Supply Chain Disruptions to Invoke ‘Force Majeure’

With the coronavirus outbreak that originated in Hubei province, China, showing no signs of abating any time soon, some companies that buy and sell goods in the Chinese market are taking interest in the legal defense of “force majeure.” The …

Coronvirus Led to Cancellation of Telecoms Meeting, but Insurance Cover Is Excluded

Companies that have spent money on a major telecoms conference in Barcelona that has been canceled after mass withdrawals due to the coronavirus outbreak cannot expect compensation under the organizers’ standard insurance, they said on Thursday. The GSMA telecoms body …

Insurers Rush to Exclude Coronavirus Epidemic from Event-Cancellation Protection

Businesses looking to buy cancellation insurance for events around the world will not be able to get cover for the new coronavirus outbreak, industry sources said, as insurers rush to exclude the epidemic from their policies. The Shanghai Grand Prix …

Beazley’s Digital Weather Policy: Plain English and Personalized

Specialist insurer Beazley has launched a digital insurance policy in the U.S. that can be customized and describes in plain English precisely what coverage the customer has bought. Beazley Weather Guard protects U.S. event organizers against the effects of severe …

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 …

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 …