COVID-19 hit the special events market hard, yet there is a sense of optimism for when things return to normal. Here are three tips for agents to help clients get ready for when the lights come back on.
When considering the two elements of the special events insurance market—property-casualty and contingency—there’s been a real variance in how the market has been impacted.
“I’m starting to see more people buy these special event policies for even regular parties,” says independent agent Phillip Lewis. “I think consumers today have more of a mindset that they don’t want to be responsible for any exposure from an event, even
“In the beginning, neither the government nor the insurance industry was prepared to deal with this entirely new technology as fast as it became available,” said independent agent Gerry Zoller. “Today, we see uniform government regulations and several ins
The coronavirus has hit the special events industry particularly hard and insurers are paying the price.
“The pandemic is putting very heavy restrictions on indoor events, which will squash that market down heavily,” says independent agent Mark Di Perno. “However, outdoor events are a different story.”
After the SARS outbreak in 2003, The All England Lawn Tennis Association, which organizes the Wimbledon tennis tournament, has purchased pandemic insurance for around $1.9 million every year.
From birthday parties to weddings and conventions to concerts, the need for special events insurance has never been greater.
The average wedding costs upwards of $20,000. Here are five ways to make sure your soon-to-be-married clients receive comprehensive coverage for their big day.
Typical homeowners insurance policies often include jewelry limits up to about $1,500, but wedding bands are usually worth much more than that. To bridge the gap, Travelers has expanded its Wedding Protector Plan® to include coverage for fine jewelry.