Event Cancellation Insurance (ECI) In the Coronavirus Era: Coverage, Claims and Changes in The Market is a top level discussion to answer FAQ’s and help frame meeting planners’ expectations in three areas:
Coverage - What specifically is Communicable Disease (CD) coverage? Does CD always include coverage for Coronavirus? A review of important terms such as Cancellation, Postponement, Enforced Reduced Attendance, Insured Financial Commitments and coverage for smaller meetings.
Claims – Understanding that this is a three step process:
Getting acknowledgement from the carrier that coverage under the policy has been triggered,
Your contractual obligation to take steps to mitigate damages and
How to prepare the adjustment phase of the claim, i.e., what information and supporting documents are needed.
The ECI Market – What are the coverage changes and rate increases that can be expected going forward and how these are likely to change again between now and year end.
Associations in the Nonprofit Practice of Gallagher
Credits: None available.
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