Event organizers in the Gulf can still insure against cancellation for many reasons, such as bad weather, a declared period of national mourning, or an IT failure. What they increasingly can’t buy is protection if an event is canceled because of war or political violence, industry executives told Skift.
Standard event-cancellation policies exclude war and political violence, so organizers routinely have to buy that coverage as a separate layer. Since the U.S.-Iran war began in late February, it is something that has become very hard to find for Gulf events.
Only one insurer, possibly two on very limited terms, is currently willing to consider war exposure for events in the region, according to Panteha Peters, head of sports, entertainment, media and special risks at insurance broker Marsh Middle East and Africa. It does so case by case, and generally no earlier than about one week before the event.
“The regional security situation, including recent
Source: skift.com
