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ARTICLE · 15 OCTOBER 2001

Ryding Out The Risk - Cancellation Insurance

Addleshaw Goddard
Addleshaw Goddard
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Addleshaw Goddard

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United KingdomInsurance

Article by James Whittaker and Nick Rudgard

The recent postponement of the Ryder Cup due to the tragic events in New York and Washington has focused attention on the risks faced by major entertainment events. Considerable costs can arise due to cancellation or postponement. What are these risks and can they be managed through insurance cover?

Risks

A typical assessment of risks that could lead to the cancellation, abandonment, interruption or postponement of an event would include the following:

  • boycotts - e.g. the 1980 Moscow Olympic Games

  • terrorist threat - e.g. the pipe bomb in Atlanta

  • health epidemic - e.g. the foot and mouth outbreak

  • national tragedy - e.g. the death of Princess Diana

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