Event Management Companies Are Increasing Their Cancellation Cover

The great British summer, we can look forward to enjoying the weather and spending some time outside at festivals, outdoor or sporting events

. However, this June and July have been anything but with torrential rain and flooding causing huge problems for some. It has ruined homes, closed roads and caused devastation in some towns. The weather has also made it increasingly difficult to plan or attend events as there are constant worries about the weather.

So, what has this meant for the events industry?

Buying tickets to events this year has in some cases slowed as people are unsure of what the weather will be like and are simply worried that an event will either be cancelled or they will have to spend it in the rain.

A statement from Innocent drinks on their website said "A busy summer along with a spell of bad weather has meant ticket sales for our Fruit Sports Day festival haven't been as good as we'd needed them to be to ensure a great day out.

With active flood alerts and more heavy rain forecast across the UK, it is not surprising the unseasonal weather conditions are creating havoc for many events, causing a number of them to be cancelled or suffering a large drop in ticket sales the financial implications of this on event planners could be very extensive.

Cancellation policies

Its important for event planners to have a cancellation policy put in place early on that will respond rapidly to any issues that arise and will pay out for claims quickly, so planners can start to put contingency plans in place or re-schedule the event if need be. Claims handlers can also offer advice and assistance to prevent a total loss.

Quality cover and experienced insurers can be the difference between a manageable problem and a major financial disaster. Additionally, purchasing the cancellation cover early on in the event can save you money; the cost of cover may increase closer to the event and terms can become restricted the longer its left.

A cancellation of events policy repays the manager of an event for his costs, less any takings, if the cancellation of the event to take place is caused by circumstances that are beyond the control of the policy holder. It can include:

Interruption of the power, water supply etc.

Breakdown of technical equipment

Labour disputes (strike)

Violent demonstrations

Damage of property - Stands, displays, electronic equipment be it your own or property which you have been made responsible for.

Non-appearance of important persons

Smog

Event insurers offering this type of policy have recently been inundated with requests for cover by event planners and if the weather continues this is only set to rise further.

by: Brendan Wilde

POST COMMENT

Find Ford Used Cars That Can Resolve Your Transport Requirements Well A History Of Psychiatry Is September Ideal For Private Yacht Hire In Turkey How To Avoid Carbon Monoxide Poisoning Britons Spend All Their Money On Holidaying Ductless Exhaust Hood For Air Purification Swaraj Daffodils : Good City Why You Need The Help Of A Divorce Lawyer Agneepath Movie Review Making An International Telephone Call Five Handy Diy Plumbing Tips For Beginners Visiting The Town Of Redbridge Top 15 Engineering Colleges In Punjab!