Event cancellation insurance

When events insurance is a subspecies of the non-life insurance , more precisely, a subspecies of the transport insurance . The insurance comes from the area of ​​event insurance . It secures the organizer of an event against possible financial disadvantages that may arise from the cancellation, cancellation, modification or postponement of the event.

Event cancellation insurance has been available on the German market for several years. However, it is only offered by a few large insurance companies. A large number of specialist insurance brokers have established themselves in this area, some of which provide specific insurance cover for customers, for example at concerts, festivals or sporting events. This insurance is taken out for practically all major events in order to avoid considerable financial disadvantages for the organizer.

With most providers, insurance is divided into two separate areas, so-called Form A and Form B. These are the insurance conditions on which the contracts are based.

Insurance conditions

Form A insures the organizer against financial losses that arise from the fact that the event has to be canceled, postponed, changed or broken off for reasons for which he is not responsible. Insured events here include, for example, extreme weather, some official orders and the inability to use the venue. Form A expressly does not include the non-appearance of named persons, e.g. B. important speakers or musicians. Furthermore, as is usual in almost all insurance contracts, there is no insurance cover for damage caused by nuclear energy , terrorism and war . Another special feature is that no compensation will be due even if the event does not take place due to a lack of visitor interest.

Form B offers insurance cover if one of the persons named in the policy, for example a musician, cannot perform due to an accident, death or illness and the event has to be postponed, canceled, canceled or changed as a result. Damage caused by alcohol or drug abuse, known illnesses or moods of the insured person is excluded. In some cases, this form can be supplemented with the clause of extended non-appearance. This also covers damage that occurs when an insured person due to traffic obstacles such as B. a flight cancellation can not attend the event.

The replacement service is the so-called net loss , which is made up of costs incurred, lost profit and other expenses, e.g. B. Damage mitigation costs exist.