Lloyd’s syndicate Travelers has announced the release of it’s Lloyd’s event cancellation cover by offering it to regional brokers.
The product, which is uniquely calculated to each individual case, 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.
Alex Clegg, Product Manager, Media & Entertainment at Travelers commented, “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,”
“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.”
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.
Source – Lloyd’s