Event insurance is primarily a type of property insurance that covers the loss of and damage to property, e.g. caused by bad weather or fire. Event cancellation insurance is available as an additional cover to pay for direct financial losses incurred from a cancellation, interruption or postponement of the insured event, provided that the cancellation falls into an insured event category such as a storm, hail, fire, etc.
What is not covered, for example, are cancellations that come as a result of an artist cancelling or falling ill or cancellations due to directives issued by government authorities. For this reason, events that have to be cancelled due to the officially mandated measures for curbing the spread of COVID-19 are not covered.
Helvetia is continuously exploring ways to help our customers affected by this crisis. Our advisors will be happy to assist you if you have any further questions.