Our Insurance Comparison Tool allows you to pick the policy that's right for you by comparing every plan offered by Canada's leading providers. Not sure what you need? Our Frequently Asked Questions can explain this coverage in greater detail.
Compare Event Cancellation Insurance Policies
|Product name||Max Coverage||Min Premium||Exclusions|
|Event by DTW1991||Max Coverage N/A||Min Premium N/A||
|Communications, Media and Technology by Lucas Fettes and Partners||Max Coverage N/A||Min Premium N/A||
|Sports, Leisure and Entertainment by PartnerRe||Max Coverage N/A||Min Premium N/A||
Frequently Asked Questions(click to expand)
What Is Event Cancellation Insurance?
Organizing an event, whether it is a small private function or a large scale conference requires extensive forward planning, co-ordination and communication with third parties. No matter how ironclad the plan can be, incidents such as a natural disaster or non-appearance by a key person can halt proceedings. An Event Cancellation insurance policy can cover the sponsorship of public or private events by covering any costs and expenses that need to be paid as a result of abandonment or postponement.
Who Needs Event Cancellation Insurance?
Types of event that can be covered under Event Cancellation insurance include:
- Private functions
- Trade shows
- Performances (live music, film and theatre)
- Concert tours
- Sports events
What Does Event Cancellation Insurance Cover?
- Adverse weather/natural disaster
- Non-appearance (or a no-show)
- National mourning
- Political risks, like war, terrorism, and riots
- Food poisoning
- Crime scene at venue
- Communicable diseases like Swine Flu or SARS
What Is Not Included In Event Cancellation Insurance?
Not all Event Cancellation insurance policies cover acts of terrorism or warlike activities. Make sure that all wording and exclusions are read carefully as the increase of terrorist attacks could cause further damages if not covered properly.
Event Cancellation policies taken out shortly before a claim may also not be valid. A 14 day period is the average time it takes for an Event Cancellation policy to become active.
Other general exclusions may include:
- Cancellation due to lack of ticket sales/poor attendance
- Variations in exchange rates or currency stability
- Bankruptcy of host/organizer
- Support or withdrawal of support by any party
How Much Does Event Cancellation Insurance Cost?
The cost of Event Cancellation Insurance will be determined by the following:
- The type of event
- The location of the event
- The predicted attendance of the event
- notification costs
- Expenses/reimbursements (for purchased tickets, staffing costs, catering, etc)
- Estimated damages
We spoke to Derrick Leue, President at PROLINK, about the importance of Event Cancellation insurance.