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Could the city announcing the cancellation yield the organizers a more favorable insurance payout? I've heard of some event insurance policies treating pandemic
by yourapostasy 7y ago
Could the city announcing the cancellation yield the organizers a more favorable insurance payout? I've heard of some event insurance policies treating pandemics as Acts of God, and will not pay on a pandemic forcing a cancellation or closure. Would be very interested in hearing the insurance industry's justification for that position.
- dang_ur_dumb 7y agoTheir justification is simple - their entire business model is to pay out as little as possible.
- johnzim 7y agoThey normally justify it by requiring you to take out an additional premium for such coverage rather than just skip out on it by force majeure. At least that's the way it's done in other countries.