Conference & Meetings World Issue 101 — July / August | Page 47

Sports insurance wish to take note of some of the key event insurance considerations: Cancellation and Non-Appearance This is vital for organisers of any tournament or major event. Organisers may well look for comprehensive cover for the cancellation, abandonment, postponement, interruption, curtailment or relocation of any insured event, due to a consequence beyond the control of the insured. Some of the other risks covered could include: • Damage or destruction of the venue • Unavoidable travel delay • National mourning/Enforced reduced attendance • Terrorism • Communicable disease Other insurance considerations, not just for organisers but for participating teams and sponsors, might include: Contractual Bonus and Sales Promotion It is important to think beyond what might go wrong. A player or team doing well in a tournament can also be expensive. Most sponsorship and endorsement contracts will incorporate performance-related bonus incentives and most international teams, like club sides, would also offer their playing staff a performance-related bonus to maximise efforts. Contractual Bonus Insurance can protect a sponsor, brand, club, union franchise or event organiser for their contractually-assumed liability to award bonuses to individuals or teams for attaining defined levels of success or achievement. Loss of attraction This coverage is not typically covered by traditional terrorism coverage. Loss of attraction is tailored to suit the needs of the client, protect revenues in the event of terrorist activity within an agreed radius of the business of specific agreed locations. The act of or threat of an act of terrorism can not only impact the defined area of the terrorist act or threat, but can also have a knock on effect to the wider economy. For example, a terrorist act at an airport would have an impact to the resorts the airport serves which could be miles away from the actual attack. “The challenge of coping with natural disasters is a significant risk”. Injury and disability Although clubs do not take part in the World Cup, the fact their players do is a significant risk. For instance, if England hero Owen Farrell is injured in Japan and misses nine months of the following season, his club side Saracens must continue to pay his wages and can be seriously out of pocket if not properly insured. Injury is also an issue for national unions - to ensure their players are fully covered against the impact of injury suffered on international duty, including disability. said tournament director Alan Gilpin, who says risk assessment has been vital. “It’s a complex piece and something we would do for every tournament. But this one has a heightened sense of realism to it. We have to take it seriously.” It’s worth remembering, too, that in 2011 an earthquake hit Christchurch in New Zealand, forcing eight games at that year’s Rugby World Cup to be moved to other cities. Many ticket holders had to be refunded – not to mention the money spent on switching venues and changing travel arrangements. Howden is one company that has been providing specialist travel cover for professionals and amateur sports teams for decades. Their insurance can cover: • Personal accident • Medical and emergency travel expenses and assistance • 24/7 emergency & security assistance • Cancellation, curtailment or change of itinerary • Personal baggage and money • Personal accident • Passport indemnity, loss of passport and travel documents • Playing and training equipment • Cancellation, curtailment or change of itinerary • Travel delay • Personal liability Adverse weather and natural disasters The challenge of coping with natural disasters is a significant risk in this Rugby World Cup. Japan is used to dealing with extreme weather but last year the strongest typhoon in 25 years hit the western part of the country, killing 11 people. A few days later, 41 people died during a powerful earthquake on the northern island of Hokkaido. “It’s a real hot topic for us right now,” Contact: [email protected] ISSUE 101 / CONFERENCE & MEETINGS WORLD / 47