Importance of event cancellation insurance
The financial losses that can incur as a result of an event being cancelled can be crippling. One common reason for the unexpected cancellation of events is due to the non-appearance of key performers.
Event cancellation insurance reimburses the event organiser’s irrecoverable costs and expenses incurred because of unforeseeable cancellation, such as the withdrawal of leading individuals at an event.
Recent non-appearances and cancellation of high-profile artists has highlighted the importance of ensuring your clients’ events are adequately insured.
One recent example involved Jess Glynne cancelling her show at the Isle of Wight Festival due to exhaustion. The pop singer pulled out of her performance at the festival minutes before she was due to go on stage. The event organiser had to take to the stage to inform fans that Glynne was unable to perform.
Elton John also disappointed fans when he was forced to cancel his Farewell Yellow Brick Road tour show in Italy this May due to a bout of flu.
Also this year, the heavy metal band Megadeth cancelled most of their remaining 2019 tour after frontman Dave Mustaine was diagnosed with throat cancer.
Having event cancellation insurance in place protects the financial interest of event organisers against circumstance beyond their control such as leading performers, speakers and individuals pulling out of the event.
Nelson Sport & Leisure arrange single or multi event polices for a wide range of events. These events include:
- Charity events
- Festivals or concerts (music)
- Food events
- Fundraising events
- Sport or Leisure
Our cover can be tailored to include:
Property, Public and Products Liability, Employers’ Liability, Legal Expenses and Cancellation/Non-Appearance.
For more information about Nelson Sport & Leisure single or multi event policies for event organisers, get in touch with the Sport & Leisure team today.Back to Blog
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