Planning an event such as a concert, marathon or corporate event, often requires investing significant sums of money for it to succeed. Unforeseen circumstances can arise causing financial losses for the organisers if the event fails to proceed as planned. Event cancellation insurance provides cover for a specific event or series of events. It often is tailored to the specific needs of the event and can vary in terms of coverage but usually protects event organisers from financial losses due to cancellation, postponement, or abandonment.
What is covered
Cover depends on the type of event and organisers can often select the perils that they want to be covered such as:
Factors that affect premium and scope of cover
A number of factors affect the premium and scope of cover including:
Event cancellation insurance protects significant revenue streams, in a way it helps protect the reputation of an organization and it ensures continuity of event. Clients should purchase this cover at least 30 days before the event start date and usually no later than 15 days prior to the event date. If it is a multiple year cover, it can be purchased up to 3 years in advance.
Talk to the Firstlink team today to secure insurance for your event as the peace of mind that comes with knowing you’re covered is invaluable.
