Will Event Cancellation Insurance Cover the Coronavirus?
Once fears subside, precautions must be in place
As Wuhan coronavirus fears spread worldwide, associations may be concerned about its potential impact on their events, particularly if they’re scheduled to take place in a region affected by the deadly disease. While associations can purchase event cancellation insurance to reduce losses if their meeting were to be canceled for an act of God, damage at the venue, or something beyond their control, communicable disease coverage often isn’t included, said Seth Fleischer, a business development professional at Aon Affinity.
“If somebody purchased a policy prior to the outbreak of coronavirus and it had communicable disease as part of the coverage, then they could potentially be covered,” Fleischer said. “Typically, communicable disease is an optional coverage that you can buy for an additional premium.”
That means associations that didn’t purchase the additional coverage would bear the brunt of the financial loss from any event they’d have to cancel in an outbreak region.
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