Beazley inundated with event cancellation cover enquiries

Beazley has been inundated with enquiries for event cancellation insurance in the wake of the floods which have swept across the UK.

The unseasonal weather conditions have caused havoc with many events, including this year’s Badminton Horse Trials, to be cancelled.

And with active flood alerts and more heavy rain forecast, the insurer’s contingency underwriters have been deluged with enquiries for cover.

“With many high profile events coming up, and summer months traditionally the time when fetes and festivals are held, event organisers are suddenly realising that their event might be in danger of cancellation due the inclement weather conditions,” said Beazley Group contingency underwriter Christian Phillips. “As a result, we are experiencing a big increase in demand for event cancellation cover.

“The current flooding and rain is likely to lead to a number of events having to be cancelled or abandoned - or at least to their suffering a significant drop in attendance figures. The cost of changing plans or having to abandon or cancel an event can be very high, so it is important that a cancellation policy responds quickly, and that claims are paid fast and without fuss.

“In addition, experienced claims handlers and loss adjustors can provide advice and assistance to prevent a total loss, and if possible re-schedule or ‘save’ the event. Quality cover and professional assistance can be the difference between a manageable problem and a major financial disaster.”