With Spring fast approaching and the Easter Holidays upon us, here at Unity Insurance Services we know that many Scout Groups, charities and other organisations will be arranging outdoor activities such as Easter Egg Hunts, fetes and family days which could involve considerable outlay in both time and financial resource.
These activities are of course a superb way to raise funds but should your event need to be cancelled due to unforeseen circumstances, some of your outgoings might not be recoverable.
Specific Event Insurance is therefore a good way to manage the risks involved with these activities to ensure that your group or organisation does not lose out.
Cancellation and Abandonment Cover
Cancellation and abandonment cover is an essential part of event insurance to prevent financial losses in case of the event’s cancellation from circumstances outside your control.
Under most event policies this would include cancellation due to inclement weather and prevailing weather conditions making it impossible for the event to go ahead. This could include covering the cost of marquee hire, entertainers, caterers and so on, all which would still need to be paid even if the event had to be cancelled.
These policies can reimburse the loss of these certain expenses following the cancellation of the event and the cover simply needs to be taken out prior to the event taking place. (For example, for our Scout Policy this is 14 days in advance.) The cost of the insurance policy is minimal compared to the costs that could be otherwise be incurred.
If you need to make a claim
You're responsible for demonstrating that torrential weather conditions occurred should the event be cancelled as a result of the weather. It is important to provide documentation to support this claim and we recommend that photographs are taken on the day of the damage and weather conditions.
The definition of inclement weather can be subjective of course, but according to the Chartered Institute of Loss Adjusters Storm damage would be “as a result of a violent disturbance of the atmosphere manifested by severe winds accompanied by heavy falls of rain, snow or hail, or by thunder and lightning”.
There are usually some exclusions on event policies, and typically these might include:
- Losses arising directly or indirectly from financial failure of the event
- Lack of support such as poor ticket sales
- Non-appearance of individual members, participants, exhibitors, exhibits, players or guests
- Insolvency or financial default
- Losses recoverable from any other insurance
So do make sure you are aware of what is covered and what isn’t as it could make all the difference.
Moving forwards with confidence
To make the most of Spring and the fund raising activities, whether they are large or small, take a few moments to consider the above and then talk to our friendly team to see how we might be able to help, so you and your group can concentrate on making your event a huge success.
Call us on 0345 040 7702.