event canc master

Event Cancellation

 The Edge

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David Jones

Phone:         +61 8 9420 7910

Mobile:         +61 419 954 564

Email:         david.jones@edgeunderwriting.com.au

 

Jo Claridge

Phone:         +61 8 9420 7940

Mobile:         +61 448 189 946 

Email:           jo.claridge@edgeunderwriting.com.au

 

Tracy Newnham​

Phone:         +61 8 9420 7920

Mobile:         +61 427 795 582​ 

Email            tracy.newnham@edgeunderwriting.com.au

Event Insurance

Event Insurance covers for the loss of costs and expenses, or revenues that result from the cancellation, abandonment, postponement, interruption or relocation of an event (in whole or in part) due to uncontrollable circumstances.

 

Why use Event Insurance

The insurance of an organisation’s physical assets against risk is considered to be essential for any well-run business. Event risks typically fall outside more easily recognised insurance covers, yet coverage for events has just as an acute effect on the balance sheet as that of any other standard coverage.

 

Considering the time and money it takes to plan an event, the risks to the bottom line are substantial. When disaster strikes, event insurance protects against the loss of costs and expenses or revenues for a small fraction of that exposure. 

 

What Event Insurance Covers

Event Insurance protects costs and expenses or revenues associated with an event, such as travel expenses, venue costs, ticket sales, advertising and sponsorship revenues, and more. It often complements other forms of event insurance such as event liability. Coverage is available for the following perils:

Can include sub-limits &/or extensions for:

Inclement weather
Natural catastrophe such as earthquake, flood, fire
Extra expenses
Power failure
TV transmission failure*
Public transport failure or denial of access
Failure to vacate the event venue
Strike
Terrorism or threat of terrorism
Non-appearance of key talent (eg speakers, teams or performers)**

*This is a special consideration request and must be clearly identified on your application for coverage.
** If non-appearance extension is taken 

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Claims Examples

No matter how well planned the event there are always uncontrollable circumstances that may arise and force cancellation, abandonment, postponement, interruption or relocation of the event (in whole or in part). 

 

The types of incidents which could jeopardise event costs and expenses, or revenues are virtually endless. Claim examples include:

 

Adverse Weather

Freak snowfall causes curtailment at exhibition

Gale force winds cause circus tent to collapse

Hailstorm causes cancellation of outdoor event

Flooding causes grandstand seating to sink

Fog causes cancellation of aerial event

 

Fire Damage

Fire destroyed exhibition centre

Forest fires cancel football match

 

Structure Damage

Boat show curtailed following partial collapse of temporary pool structure

Roof collapse causes cancellation of motor show

Assembly of marquee structure is hindered causing delay in event opening

Sprinkler leakage causes flooding and damage to exhibits and venue

 

Utilities Failure

Power grid supply failure causes shut down of theatres

Water supply failure causes shut down of exhibition

Denial of Access to event location resulting from a gas leak

 

Other Anomalies

Performer attacked by audience member

Jet crash kills pop star resulting in cancellation of tour

Assault on 4th green causes police to restrict access to golf course Stage Hydraulic failure cause the stage to collapse at rock concert 

 Target Risks

What Event Insurance Does Not Cover

There are certain exclusions for event insurance coverage. The principal exclusions include: 

Financial failure, insolvency or default; support or withdrawal of support by any party

Lack of sales, response or attendance

Variations in exchange rates or currency stability

Radioactive contamination

Use of pathogenic or poisonous biological or chemical materials*

War and civil commotion*

National mourning*

Communicable diseases*

 

* For these exclusions an extension may be available for purchase. We welcome any other requests you do have.  Please feel free to contact us to discuss additional coverage.

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Over 100 different event types are available for coverage with no minimum premium requirements in the following categories: 

 

Sporting events and competitions

Trade shows, conferences and lectures

Carnivals, festivals and fairs

Film & TV premiers

Concerts & tours

Corporate functions
Community Events
Weddings & memorials
Heaps of other events!

 

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