What is Event Cancellation Insurance?
It is a type of policy that covers the payment of the event expenses and the artist’s fee in case the planned events are canceled due to reasons such as bad weather conditions, the inability of the artist to perform, the inability of the event organizers to participate in the event, terrorism/political risks, and damages to third parties in the event area. Event cancellation insurance is a type of insurance that aims to protect the financial losses incurred by an organizer or event owner if a planned event is canceled or postponed for an unexpected reason. This insurance is offered for various types of events such as concerts, sporting events, weddings, fairs, conferences, festivals and other large organizations. Event cancellation insurance can typically have the following basic coverage and risks: