Travelers’ event cancellation cover extended
Wed 08 Feb 2012
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Travelers has announced that it is rolling out its Lloyd's event cancellation cover to regional brokers through its company operation so that more clients around the UK can access this bespoke cover.
The product is designed for businesses staging events such as annual general meetings, conferences, trade shows and corporate entertainment.
The cover was developed after the syndicate saw increasing demand for their product from around the country.
Growing demand
“Although this cover has been available through our syndicate for a couple of years now, we have seen a growing demand from non-Lloyd’s brokers and regional brokers,” says Alex Clegg, Product Manager, Media & Entertainment at Travelers.
“By launching a bespoke version of our product through our insurance company operation, we are making our products more accessible for these brokers and moving forward the company’s goal of offering a broader range of products to our broker partners and customers.”
Building on business
Travelers began writing event cancellation cover through its Lloyd’s syndicate in 2009. The maximum limit for this product will be £2.5 million per event.
The company is considering covering terrorism, communicable disease, national mourning, enforced reduced attendance and other extensions for these risks – and said it already has a number of brokers lined up for the product.
