Beazley, a leading provider of event cancellation insurance, has expanded its terrorism and political violence event cancellation insurance for the sports, entertainment and leisure industries in the US to include riots, civil commotion, strikes, the threat of a terrorist act and other potential disruptions to live events.
Locations where large crowds gather, including concerts, sporting events, fairs and amusement parks, are exposed to a wide range of potential disruptions.
Evacuations, event cancellations and postponements due to terrorism and political violence are growing concerns for event organizers and retailers that earn revenue related to these events.
Beazley covers a wide range of events globally ranging from small, local events to the world's largest international sports competitions.
Beazley's expanded coverage ensures that event organizers, retailers and entertainment venues can recoup reduced revenues associated with the cancellation, abandonment, disruption or rescheduling of events due to political violence and terrorism.
"Event organizers need to prioritize the safety of attendees and actively respond to incidents and threats that could put them in danger," said Christian Phillips, Beazley's US focus group leader for contingency business.
"Expanding our coverage to include political violence and other disruptions offers event organizers, retailers and others protection from the financial consequences of these varied threats."