Markel American Insurance, a specialty insurance product underwriter, has launched a new special event insurance and wedding insurance to protect both liabilities and cancellations associated with these events.
Markel will offer two separate components to properly protect the event with on-line quote and policy issuance. The components include cancellation coverage and liability coverage.
Cancellation coverage provides reimbursement for lost deposits and other charges paid or contracted to be paid for various services associated with the event as well as items such as special attire, event photographs and special jewelry. Coverage can be purchased up to 15 days prior to the event.
As per the liability coverage component, primary coverage with no charge to add the venue as additional insured for damages for which the insured or honoree becomes legally liable for due to an accident that causes bodily injury, property damage or personal injury. Coverage can be purchased up to one day before the event date.
Markel American Insurance Company president Timberlee Tamraz Grove said the company is offering these coverages that people don’t tend to think of when planning their event.
"It’s easy for someone to get caught up in the little details of planning a wedding or event and forget to protect their investment. It’s so important to protect yourself when planning these events and we’re excited to offer coverage options for every type of personal and nonprofit event," Grove said.