CCW Global is able to provide comprehensive Additional Costs Coverage Benefits on Event Insurance plans we offer in Hong Kong, Macau and throughout the APAC region.
Additional Costs Coverage is often overlooked by event organizers considering their insurance coverage; often due to the fact that it could be considered “unnecessary” should the organizer have purchased an event insurance policy which includes Cancellation, Non-Appearance, and even Equipment benefits.
However, the importance of Additional Costs Insurance cannot be understated in relation to Event Insurance policies, and should be considered for inclusion in the plan by all event organizers.
Should you opt to include a policy benefit for Additional Costs Coverage under your event insurance plan then you will be protected against the financial consequences for additional costs required to continue the production of an insured event should you suffer a loss stemming from damage, burglary, theft with threat, use of false keys, deception, or event destruction of the goods being used for the production of the event ins question.
This type of protection can be used to supplement the coverage provided by, for example, a benefit like Facilities, Sets, and Furniture Insurance, and can ensure that you are always comprehensively protected for any costs which you may be required to pay to continue the production of the event following a loss or interruption.
Furthermore, Additional Costs Coverage Benefits can provide coverage for additional production costs incurred following a natural disaster if the event is taking place indoors. For outdoor events, the policyholder must have purchased Inclement Weather protection in order to receive additional costs coverage following a natural disaster.
It is important to note that the Additional Costs Coverage available under a Hong Kong event insurance plan will normally exclude additional costs resulting from damages caused by:
However, in many cases it may be possible to include additional costs coverage for one of these major exclusions. If you would like to look at including additional cost coverage for an excluded damage type, please Contact CCW Global to speak with an expert advisor today.
If you would like to receive a free quote for additional costs coverage on a Hong Kong event insurance plan, simply complete the short form at the top of this page and select Specialist Insurance from the menu. Once you have submitted your quotation request an expert CCW Global Event Insurance broker will contact you directly to further discuss your coverage requirements.
You can read more about our event insurance quotation process by clicking Specialist Insurance Quotes.Print or Share