CFC launches event insurance policy

CFC has launched new cover for event organisers, combining cancellation coverage, general liability and commercial property. The policy protects organisers against various liability exposures and includes cover for contents lost or damaged in transit as well as additional expenses like temporary repairs.

The policy will also reimburse for costs associated with event cancellation, abandonment, curtailment, postponement or relocation for reasons outside of the organiser’s control, including the non-appearance of a participant.

Contingency practice leader at CFC, Matt Helm says that when it comes to events, there are lots of moving parts, which means a lot can go wrong, so this kind of policy is particularly relevant.

“The global events industry is booming and is expected to reach US$2,330bn [£1,800bn] by 2026, he added. "But just as the number of music concerts and festivals, sports events, exhibitions and conferences is growing, so are the risks that can impact not just their success but their ability to go ahead in the first place."

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