Q. How long does it take to get a quote?
A. If the event fits within the automated underwriting criteria, the quote will be released instantaneously. In most cases when the criteria is not met for the automated system, you will receive a quote within 48 hours of submission.
Q. How far in advance do I have to bind coverage?
A. 14 days before the start of the event, we will need a confirmation to bind coverage, confirmation on whether or not you are accepting TRIA coverage, any outstanding information, and payment.
Q. What is covered by the Event Cancellation Policy?
A. Our coverage is an “all cause” coverage, meaning that it covers you for any Non-Excluded cause beyond your control that leads to the necessary Cancellation, Abandonment, Postponement, or Relocation of your event. In addition, our program provides protection for out-of-pocket expenses you may incur to avoid or diminish a loss, even if your event goes on as scheduled.
Q. What carriers do you use?
A. Our Event Cancellation program is Best Rated and we have non-admitted paper with AIG, Lloyd’s of London, and Houston Casualty Company.
Q. How do you determine the amount of the premium?
A. There is a predetermined rate that is based on the location and date of the event and the risks associated with it. Once a rate is determined it is applied to the aggregate limit that is being insured.
Q. When can I insure expenses instead of revenue ?
A. You can insure expenses if this is the first time the event is running.
Q. What is Enforced Reduced Attendance (ERA)?
A. Enforced Reduced Attendance is the inability of visitors to travel to the event due to a specific cause that is beyond the control of the organizer and attendees. An example would be a winter weather exposed area in which flights are delayed or cancelled, therefore disabling attendees from traveling to the event.
Q. What are the Principal Exclusions on the Event Cancellation policy form?
A. Standard exclusions would include:
The non-appearance of any person or persons (can be bought back into the policy), Teleconferencing, Adverse weather in respect to outdoor events, Civil commotion, Pollution or contamination, Alterations of the insured event, Acts of terrorism (can be bought back into the policy), Actual or threatened use of biological or chemical materials, Any national or court mourning unless a declared state of national mourning occurs following the death of the President of the United States or it occurs within seven days from the published start of the event date.