Event cancellation – what is free terrorism cover?
Some event insurers will provide some element of free terrorism cover causing cancellation or abandonment of an event. They do this either by including the risk but then limiting the size of event they cover, or by putting in a sub limit. Read policy wordings carefully – some of our competitors don’t offer terrorism cover atall. Since 9/11 most underwriters offer this cover with time and distance limitations – for example they might offer cover up to £ 100,000 against a terrorist attack occurring within 7 days and 5 miles of the venue. This means that it would only cover an occurrence within those parameters, so if the attack was 8 days out, or more than 5 miles away, you would not be covered. Event Assured now give free terrorism cover for events in Europe up to £ 500,000. This operates in respect of an attack at the venue at any time after taking out the insurance, and other than at the venue it applies within 30 days and within 25 miles of the venue. This would mean that if there we
