As the event sector looks to restart after the extreme challenges of the last quarter of social distancing and venue closures, many of our clients are providing virtual events for their customers with studio set-ups and remote filming. With the prospect of large gatherings for concerts, conferences or festivals feeling a little way off, these type of online events are proving very successful and introducing new customers to event companies.
To support this growth, our insurer partner Beazley has now launched a contingency policy designed to cover event organisers if a transmission failure disrupts or cancels a virtual event.
This innovative virtual events policy supports organisers whose success relies on technology platforms providing seamless transmission or broadcast to their audiences. If an event is cancelled due to transmission failure, the policy covers first-party losses including organisational costs, expenses, or gross revenue from advertising and ticket sales.
The policy is designed to provide simple and clear cover for the risks involved with hosting virtual events and offers limits of up to $10m.
Please contact Simon Miller on 01638 675993 for further details of this new cover or if you have any other insurance queries.