Cornhill Insurance is underwriting a new ticket protection product for theatregoers, the brainchild of Essex Financial Management broker Graham Berg.

Berg has started Ticketplan as a subsidiary to his brokerage and hopes to sell the plan to up to 300 theatres by the end of the year.

Theatres will then be able to sell Ticketplan, which covers theatregoers against the cost of tickets and booking fees when unforeseen traffic problems, ill health, accident or death prevent them from attending the show.

Premiums will typically add £1 to the price of the theatre ticket.

Berg has already convinced The Ambassador Theatre Group, Theatre Royal Haymarket and The Strand Theatre of the product's worth.

Actor and singer Adam Faith launched Ticketplan at the Albert Theatre on Monday.