Tag: event insurance coverage

Wimbledon’s pandemic insurance will pay $141 million for cancellation

Logan B.
Pandemic insurance - Wimbledon - empty

The massive tennis tournament has been shut down to help slow the spread of the coronavirus. Wimbledon, like most other sports events around the world, has been cancelled this year, but the All-England Lawn Tennis Club’s pandemic insurance will cover about half of its losses. The event organizers have been paying for this insurance coverage for the last 17 years. The event policy includes pandemic insurance coverage. According to an Action Network report, the insurer will be paying $141 million as the event has had to be cancelled due to…

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Event insurance policies often don’t cover disease cancellation

Marc
Event insurance policies - SXSW 2020 Cancelled - SXSW YouTube

As gatherings like SXSW are stopped to slow COVID-19’s spread, participants are suffering losses. The South by Southwest (SXSW) conference has been cancelled for the first time in 34 years and the lack of disease outbreak coverage in event insurance policies has left many participants out of luck. This year’s SXSW was supposed to take place in Austin, Texas, from March 13 to March 22. The two SXSW founders were cited in a recent media publication, saying that the organization did not have disease outbreak coverage in its event insurance…

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Forms of insurance coverage not always considered by consumers

Though consumers are typically aware that they need homeowners’, renters’, and automobile insurance, there are other forms of coverage that can be offered by policies of which they may be entirely unaware unless they are highly knowledgeable about the various types of protection available. Some of them include: • Personal Electronic Equipment Insurance – this is a very practical insurance for consumers who have expensive electronic devices at home, such as televisions, audio equipment, or computers. It covers loss and damage and might even pay for repairs and replacement, depending…

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CICI Lombard and Bajaj Allianz announce new wedding insurance products

Julie Campbell

CICI Lombard and Bajaj Alliance insurance companies from India have announced that they are now offering a unique form of “wedding insurance” product. Though marriages are meant to be a dream come to reality, the truth of the matter is that they don’t all come to pass, and that there is a chance that they may need be stopped for any number of reasons. The insurers recognized this fact as an opportunity and developed a new product in which weddings could be insured against the possibility of postponement or cancellation…

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Bikini Travel Insurance announces new product just for women

Bikini Travel Insurance has announced that it has released a form of specialized travel insurance that was created by women, for female consumers. This new Bikini Travel Insurance policy is now available for purchase online. This product is particularly unique because insurance products are typically considered to be the creation of men. This product breaks away from that tradition and focuses specifically on consumers who are women, with their travel behaviors and needs in mind. The policies do still cover the conventional travel insurance elements such as repatriation cover and…

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Hurricane Irene spurs growth in wedding and event insurance

Julie Campbell

When Hurricane Irene made its way up the East Coast of the United States, it destroyed homes and businesses, ripped up trees, downed power lines, and disappointed many who had been preparing for important events such as weddings. The majority of couples who had intended to get married during the week of August 28, 2011, were forced to either cancel their weddings or at least postpone them until a later date. Hurricane Irene made the risk of this type of unforeseen event quite real to many other couples who have…

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Thefts at little leagues cause rise in crime insurance

Little league thefts ranging from break-ins to concession stands to embezzlement schemes have led the leagues to purchase crime insurance policies for better protection.  These volunteer-run organizations have been noticing similar problems for several years, which originally led Little League International to issue a letter in 2009 to try to provide local leagues with tips and ideas that could help them to protect themselves against the financial struggles that were resulting from missing funds.  The suggestions included everything from improved security devices to criminal background checks on participating adults.  The…

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