Event Cancellation Insurance

Product Highlights

Scope

The insurance is to indemnify the insured for their ascertained net loss should any insured event(s) specified in the schedule be necessarily cancelled, abandoned, postponed, interrupted, or relocated, in whole or in part, which necessary cancellation, abandonment, postponement, interruption, or relocation is the sole and direct result of any cause beyond the control of the Assured and the participants therein.

Event means SOCIAL EVENTS.

Coverages

• Section I: Cancellation of event due to Fire & Allied perils for Sum Insured.
• Section II: Public Liability Insurance – Indemnity limit AOA/AOY (IF OPTED).

Period of Insurance

As per the requirement.

Exclusions

• Non-appearance of individual members, officials, speakers, teams, players, performers, performing groups, participants, exhibitors, or guests.
• Duty of care: The assured’s lack of care, diligence, or prudent behavior, resulting in increased risk and/or likelihood of loss.
• Any contractual dispute or breach by the assured & such other.
• Adverse weather in respect of outdoor events.
• Unavailability of venues.
• Any event in open or under canvas or in a temporary structure unless agreed by the Insurer.
• Civil commotion.
• Seepage and/or pollution and/or contamination unless discovered during the policy period and is a direct cause of loss.
• Withdrawal, insufficiency, or lack of finance howsoever caused.
• Financial failure of any venture.

Note: Policy details given are indicative, not exhaustive. Please contact your nearest NIA office for further details.