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A number of events have now been cancelled, postponed or curtailed with the below some of the more high profile cancellations / postponements that have received extensive press coverage:
As predicted, many Event Cancellation insurers are now seeking to exclude all cover for losses arising out of Coronavirus including specifically actions taken to control it and restrictions in movements or travel advisories. This includes events that scheduled for late in 2020 and in 2021, regardless of the location, as they are concerned with their aggregate exposure.
One factor that will remain a key issue for organisers is the potential for reduced attendance due to participants being reluctant to travel or attend large events because of their health concerns. Such losses cannot be covered if they are as a result of fear of travelling. Once the Coronavirus cover is made available again it will be possible to obtain cover due to an enforced reduced attendance e.g. lost revenue due to ticket holders/participants being prevented from travelling
This does not change our advice for event organisers and we continue to recommend that;
It may be possible, under certain circumstances, to arrange cover including Coronavirus for certain events taking place in 2020 and 2021. If you would like any advice regarding such cover, and/or for any other event insurance, please do contact us.
To read the previous article on 'Coronavirus - advice for Event Organisers, please click here.