FKINP Event Insurance Services (EIS, underwritten by Convex), Hiscox and AXA XL each publish event-cancellation information that suits a different kind of UK conference organiser: EIS sets out its loss categories and one-off, one-day and multiple-event options; Hiscox describes tailored cover for one-off events and multi-event series; and AXA XL describes specialist contingency cover, including extensions for risks usually excluded from standard wordings.[1][2][3]
None of the three publishes premiums or monetary limits that can be compared like for like, so the practical next step is matched quotations and full policy wordings.[1][2][3]
Public-liability insurance may be required by a venue, but it addresses liability for third-party injury or property damage rather than event-cancellation losses.[2]
What each provider publishes
Event Insurance Services / Convex
- Loss scope: Event Insurance Services says its cancellation cover can address irrecoverable costs and expenses, loss of revenue or profit, and additional expenditure incurred to reduce a threatened loss or rearrange an event.[1]
- Programme fit: EIS offers one-off, one-day and multiple-event categories, with conferences specifically included. The insurance is arranged by Event Insurance Services Ltd and underwritten by Convex Insurance UK Limited.[1]
- Named examples: EIS gives examples including speaker illness or injury, venue inaccessibility and unforeseen adverse weather.[1] Ask whether war, communicable disease, political violence or nuclear, chemical, biological and radiological risks are included, excluded or available as extensions.
Hiscox UK
- Loss scope: For conferences, Hiscox says an event may need to be cancelled or postponed because of failure of utilities, fire, flood at the venue, terrorism or other circumstances beyond the organiser’s control, and that this can result in expense that cannot be recovered or loss of profit.[2] Its page does not separately describe additional expenditure to reduce a loss, so ask how mitigation and rearrangement costs are treated.
- Disruption types: Hiscox says its cover can respond to cancellation and to abandonment, curtailment or rearrangement.[2]
- Programme fit: Hiscox describes short-period cover for individual events or a multi-event series, annual policies for event businesses, and cover for events ranging from small fundraisers to global conferences.[2]
- Exceptional risks: Terrorism is named among the reasons a conference may be cancelled or postponed.[2] Confirm in the quotation whether it is standard, optional or separately limited.
AXA XL
- Loss scope: AXA XL lists cancellation and abandonment, non-appearance, weather-related risks and specialist contingency classes.[3] Ask the broker how lost revenue, profit and mitigation or rearrangement expenditure would be measured.
- Programme fit: AXA XL targets organisers, promoters and production companies, including mid-sized and multinational organisations seeking event, non-appearance, weather, prize or excluded-risk cover.[3] Availability varies by jurisdiction, location, industry, risk profile and business need.[3]
- Exceptional risks: AXA XL lists terrorism, war, national mourning, communicable disease, nuclear, chemical, biological or radiological attacks, and political violence as possible extensions for risks usually excluded from standard wordings.[3] These are not automatic inclusions; cover depends on the issued policy’s terms, conditions and exclusions.[3]
Which published information fits which situation
- Single conference with a clear budget: EIS publishes the most explicit list of loss categories, which makes it a straightforward benchmark for the questions to put to every insurer.[1]
- Series of events or an event business: Hiscox describes both multi-event short-period cover and annual business policies.[2]
- Large, international or high-exposure events: AXA XL publishes the most detail on specialist contingency classes and extensions for normally excluded risks.[3]
These are starting points for a shortlist, not a ranking: the right policy is the one whose issued wording matches the conference’s own exposures.
Check exceptional risks separately
A general reference to circumstances beyond the organiser’s control does not mean every external event is insured. Communicable disease is the clearest example: in August 2021 the UK government said insurers had paused the sale of cover for COVID-19-related risks to businesses, and it backed a temporary reinsurance scheme for live-event cancellation that was due to run until September 2022.[5]
For each material risk, ask the insurer or broker to identify:
- whether it is included, excluded or available only as an extension;
- any territorial, event-location or risk-profile restriction;
- any separate excess, sublimit or condition; and
- the endorsement or policy clause providing the cover.
Why published prices and limits cannot be ranked
Hiscox publishes no fixed premium and says cost varies with the products selected, the cover limits chosen, the size of the event or business, and location.[2] The EIS and AXA XL pages used here do not state a premium either.[1][3]
Because insured value, attendance, duration, venue, excess and optional extensions all differ between events, a cheapest-to-most-expensive list built from marketing pages would compare unlike risks. Prices and terms change, so confirm current availability with each provider at the time of quoting.
Request matched quotations
Give each provider the same event type, dates, duration, venue postcode, attendance, insured values and requested extensions. Then compare the following points.
- Financial exposure: Request separate insured amounts for irrecoverable costs, lost revenue or profit, and extra expenditure needed to reduce a loss or rearrange the conference. EIS describes all three; Hiscox refers to unrecoverable expense and loss of profit; AXA XL’s page does not break the loss down this way.[1][2][3]
- Covered outcomes: Ask whether the wording covers cancellation, abandonment, postponement, interruption, curtailment and rearrangement, because EIS and Hiscox use different combinations of these terms.[1][2]
- Named perils: Obtain written answers for speaker non-appearance, venue closure, utility failure and severe weather. Where relevant, do the same for terrorism, war, national mourning, communicable disease, political violence and nuclear, chemical, biological or radiological attack.[3]
- Contract terms: Record the total premium, taxes and fees, insured amount, excess, sublimits, territorial scope, notification deadlines, evidence requirements, policyholder cancellation rights and refund terms.
If a claim is disputed
The FCA says a small business should first complain to the firm, and if it is unhappy with the final response it can go to the Financial Ombudsman Service, which is free and independent.[4] The FCA advises contacting the Ombudsman within 6 months of the firm’s final response.[4]
- Micro-enterprise: fewer than 10 employees and annual turnover or balance sheet total under £2 million.[4]
- Small business: not a micro-enterprise, annual turnover under £6.5 million, and a balance sheet total under £5 million or fewer than 50 employees.[4]
- Charities: annual income under £6.5 million.[4]
Organisations above these thresholds, or that do not accept an Ombudsman decision, may need to consider court action and should take advice from a solicitor.[4]
References
- Event Cancellation Insurance | Event Insurance Services (events-insurance.co.uk)
- Event Insurance | Event Cancellation Cover | Hiscox UK (hiscox.co.uk)
- Event Cancellation – Prize Indemnity and Contingency Insurance | AXA XL (axaxl.com)
- How to complain if you're a small business | FCA (fca.org.uk)
- Event cancellation reinsurance support scheme – GOV.UK (gov.uk)
