In the dynamic world of event planning, the risk of cancellation is ever present, potentially leading to significant financial losses. Contingency insurance is invaluable to event planners. It offers your event protection against the financial repercussions of event cancellations.
We can help you find the right contingency insurance for your event, whether it’s a corporate conference, festival or sporting event. Contingency insurance plays a critical role in making sure your event business can boldly plan and confidently operate.
The risks associated with event cancellations can stem from sources beyond your control, such as:
- Extreme weather
- Natural disasters
- Terrorism
- Accidents
- The sudden unavailability of key participants
Each of these poses a potential threat that can lead to the cancellation, postponement, curtailment or relocation of an event, each incurring different levels of financial loss.
Our contingency insurance solutions
Event cancellation
Provides protection for loss of revenue or expenses for event organizers, promoters and sponsors in the event of a catastrophe.
Non-appearance
Offers protection if a key event attendee such as artists, bands, speakers, celebrities or athletes, fails to appear, leading to the cancellation of the insured event.
Prize indemnity
Covers the cost of the prize in case a participant wins in a competition. This protects your organization from a significant financial outlay.
Contract bonus
Offers protection for sports clubs and teams covering the contractual bonuses individuals receive for achieving certain targets. If the specified condition is met and the bonus becomes due, then the payout is covered.
Other contingency insurance classes we can arrange:
- Transmission failure
- Disgrace
- Over-redemption
- Standalone terrorism
- Event liability
Why WTW’s contingency insurance?
- Continuous improvement and innovation – We’re always innovating, while continuing to improve established products and services, to serve you better.
- Prioritizing your claims – We support you before, during and after a claim, via our in-house, dedicated claims management team.
- Customized risk management solutions – We’re dedicated to finding the right solution for your needs, regardless of your industry, location or the legal and regulatory environment.
- 360-degree support – You can benefit from our broking expertise and comprehensive claims support.
For smarter ways to manage your event risks, please get in touch.
