This new solution enables brokers to deliver to their clients comprehensive event cancellation as well as general liability and property cover for the event all under one policy. Also available on a standalone basis, the event cancellation component covers the costs associated with an event being cancelled, abandoned, postponed, or relocated for reasons outside of the insured’s control, including the non-appearance of a participant.
Matt Helm, Contingency Practice Leader at CFC, explains: “When it comes to events, there are a lot of moving parts and a lot can go wrong if the unforeseeable happens. Historically, brokers have had to pull a patchwork of policies together to provide their clients with comprehensive cover. That has changed with the introduction of our new event insurance policy. Our broad package solution provides limits of up to $5m in the US and $10m in Canada, and gives brokers and clients a one-stop-shop saving them both time and money.”
CFC’s new product enables organisers to protect the financial investment of their event including everything from agreements with spectators, staff and performers to building and contents damage. Optional extras include cover for terrorism, adverse weather, earthquakes, communicable diseases and non-appearance.
The policy will be available in other territories in the following months. Stay tuned!
