Event insurance – how is the sector evolving to meet the changing risk landscape?

While the event sector has rebounded post-Covid, it still faces a host of challenges. Challenges that offer brokers opportunities to help organisers both manage and mitigate risks to soften the blow if they have to cancel or postpone a planned event due to factors out of their control. Martin Friel reports

When the Covid pandemic hit, much of the market assumed a defensive posture as insurers and reinsurers scrambled to stem a tide of potential losses that had a hint of Armageddon to them.

The most contentious of these were in the business interruption market where insurers were dragged through the courts and forced to honour many of the contested policies. 

Lloyd’s total losses were about £6bn and £4bn of that was contingency. We will never recover from that.David Boyle, MD of contingency at