- By Peter Shellard
- 30 October 2017
Earlier this year we launched a dedicated in-house binding authority for small to medium sized contingency business, offering limits of USD25m. The facility responds quickly, efficiently and with competitive terms, helping you secure cover for clients, even at very short notice.
In less than 6 months the facility has bound in excess of USD2m gross premium across a variety of different risks, including:
- Sports events
- Music tours
- Music festivals
- Air shows
- Theatrical productions
- Lottery risks
Examples include cancellation cover for both a championship show jumping event and a leadership conference on board a cruise ship. Also, non-appearance cover for a series of music concerts at a large US venue.
Risks have been written across five continents, with both small and large limits, showing the facility’s versatility and global appeal.
Quick and efficient
Through our streamlined placement process, we quote, bind and produce accompanying certification in-house, helping you to respond with cover quickly, reducing your workload and providing you with competitive terms.
Backed by A+ rated Lloyd’s syndicates and written on recognized Lloyd’s/London contingency wordings, policies offer peace of mind and can be tailored to meet individual client needs.
Main risks
Contingency insurance provides financial protection against a wide variety of unforeseen risks faced by event organizers and London is a leading global center for this class of business. The binder grants us delegated underwriting authority for the following risks:
- Cancellation, abandonment, postponement, interruption, curtailment or relocation
- Death, disablement and disgrace
- Non-appearance
- Transmission breakdown
We can also work with our markets to include perils that are excluded as standard, such as adverse weather, acts or threats of terrorism, communicable disease, national mourning, war and civil war, as well as incorporate additional related coverages if required.
Here to help
Every event is different and will have specific issues to identify and deal with depending on the timing, location, nature of the event, types of participant, crowd numbers and, of course, the underlying drumbeat of world affairs and associated threat levels.
With over 60 combined years’ experience in establishing appropriate contingency insurance solutions for client, our dedicated team is perfectly placed to advise you on this specialist class of business.
For further information on Miller’s contingency facility or to discuss contingency risk more broadly, please contact either Peter Shellard, Andy Thompson or David Griffiths.
