Coverage of costs in the event of cancellation or termination of an event
Reimbursement of expenses already incurred
Assumption of cancellation costs
Protection against financial losses due to cancellation or postponement
Event cancellation insurance
Event cancellation insurance protects against the financial losses that can result from the cancellation, termination or postponement of an event.
In this case, the insurance usually covers all costs that have already been incurred for the event and can no longer be recovered.
These include, for example, costs for advertising, rental of premises, technical equipment and catering. Any cancellation costs are also usually covered.
Typical examples of damage
Illness of important speakers or artists who cannot attend the performance
Cancellation of outdoor events due to weather conditions
Failure of technology necessary for the implementation of the event
Terrorist attacks or other unforeseen events that make it impossible to hold the event
Event cancellation insurance is recommended for companies and industries that organize or host events on a regular basis.
These include, for example, event agencies, trade fair organizers, concert promoters, sports clubs or even companies that regularly hold internal events or meetings.
Taking out event cancellation insurance is also particularly recommended for events with high costs, such as major events or international trade fairs.