CCW Global can provide Forced Loss of Audience benefits on our Event Insurance plans.
If your audience cannot make it to your event, even if that reason is beyond your control as an organizer, then it is likely that there will be a demand for compensation. Because of that, a forced loss of audience coverage benefit is often a good idea, even if the organizer has opted to include Cancellation Insurance and/or Inclement Weather Coverage.
If you opt to include this coverage benefit on your event insurance policy then you are protected against all losses of your audience should they be unable to get to your event’s venue if the cause of the accessibility issues is outside of the organizer’s control.
Causes of Audience loss normally covered under this type of policy benefit include:
If any of these circumstances prevent a substantial number of important visitors, guests, participants, or audience, and this results in a loss of the takings expected to be made for the event or results in mandatory reimbursement of the event’s sponsors, investors or financers, then you are able to receive compensation against your losses.
If you declared your profit margin to be covered by the event insurance plan then you will be covered for the full cost of the audience’s lost ticket price. If you do not declare your profit margin to be covered under the event insurance policy then you will be covered for the cost of the audience’s lost ticket price, minus your profit per ticket.
Forced Loss of Audience coverage can be especially critical in Hong Kong and Macau, where residents of the two cities will routinely travel by ferry to the other city for an event.
Should, for example, a Typhoon force the stoppage of the ferry service which results in your audience’s inability to get to the event, then a Forced Loss of Audience coverage benefit will ensure that you are able to receive reimbursement for this situation.
If you would like to receive a free quote for event insurance plans which include Forced Loss of Audience coverage, simply complete the short form at the top of this page and select Specialist Insurance from the menu. Once we have received your quotation request an expert CCW Global Event Insurance broker will contact you to further discuss your coverage needs.
More information about our quotation process can be found by clicking Our Specialist Insurance Quotes.
Should you have any questions about the mechanisms of Forced Loss of Audience insurance coverage, or if you would like to learn more about any of the event insurance plans offered by CCW, please Contact Us Today.