While in the US insurance has been a central consideration for events for some time, here in New Zealand, alarm bells are only just starting to ring due to the increasing number of incidents occurring at events. Already this year alone, Auckland and Taranaki storms have equated to almost $7 million in damages. Even with the harsh terrain of a New Zealand winter, event insurance is still overlooked, with the underlying theme being it is not necessary, because what are the chances of something going wrong 'right?' If there was more education around the topic, then opinions might swiftly change, as protecting your event will provide you with the reassurance that if something were to happen, your damages would be covered.
To broaden your understanding, here is an overview of event cancellation insurance and two of the main areas that fall under it that need to be addressed. Want to know more? Don't miss our joint webinar later this month.