Is cover available against the cancellation, postponement, relocation or abandonment of events due to new UK Civil Authority restrictions in response to COVID-19?

Covid 19 and your events, should I be buying insurance?

The Government and a group of insurers have been working to set up a new scheme which sees both insurer and the Government underwrite the risk. Details set out on 6th September 2021 can be viewed on this link

Should this be something that I should be looking at?

This depends largely on the amount of money you might lose if any additional restrictions were put in place because of changes to the course of the pandemic. A new variant for example, that meant that you were not able to go ahead with your events as planned, because you were told to cancel by the UK Civil Authority, might have catastrophic impact. If the amount of the losses were such that you would not be able to pay these yourselves, then exploring this cover might well be a good idea.

If you regularly purchased event cancellation insurance in the past, then this extension to that cover might be more important to you.

How do I go about getting a quote?

The first step is to talk to us. At the time of writing details have not been fully released yet, as final wording is still being ironed out. but This does not mean you cannot be ready when it is available, it is expected very soon. Here at Graham Sykes, we deal with this everyday and can arrange for you to be kept up to date as the details are released.

We can then arrange for you to have a quotation so that you make an informed decision about whether it is right for you. This is a FREE part of our service!

What exactly does the policy cover?

An idea of what I covered is outlined in the document above, but more details will be available once the insurers release their products to the public. In general terms it works in a similar way to any cancellation policy currently available. For example, where sums of money can be claimed if certain events such as bad weather may mean your event cannot go ahead.

In this case the insurance is for the risk that your event cannot go ahead because you have been told to cancel by the UK Civil Authorities as a result of Covid 19.

Please remember any claims are dealt with on a claim by claim basis. It is also a good idea to make sure that any losses you are concerned about don’t fall under the exclusions of the policy, so give yourself time to check this out, do let your broker know the details of your concern so that we can make sure you are buying the cover that is right for you.

How much does it cost?

We don’t know just yet, but you can contact us now and we will arrange a quotation once we have the details.  Please do remember that you have an obligation to provide a fair assessment of the risk involved, if this is found not to be the case then any claims you make might not be met. You can get in touch now by clicking here