Overview of the Program from RISC Inc.
Event Select is built for agents who need a flexible event cancellation product that can be structured on either a gross revenue or an expense basis. Coverage includes standard perils such as extreme weather and damage to premises, and an optional communicable disease module is available where permitted. Limits are available up to $10 million (higher limits available upon request).
Ideal Accounts and Appetite
- Concerts and touring shows
- Trade shows, conventions and exhibitions
- Festival and fair organizers
- Art & antique shows and corporate meetings
- Outdoor events including golf outings (specialized wording available)
Best fit: single-event and annual series with clear revenue or expense exposure, documented ticketing or contracts, and professional event management. RISC typically declines accounts with unresolved prior losses, poorly documented contracts, or highly speculative/volatile formats without loss-mitigation plans.
Coverage Highlights and Advantages
- Triggers include extreme weather (blizzard, hurricane, earthquake, flood, tornado), damage to premises, airline delays, cancellation of keynote speakers, national mourning, and more.
- Communicable disease option available where allowed.
- Coverage for curtailment, enforced reduced attendance, and failure to vacate.
- Labor dispute coverage (cancellation or interruption due to industrial action).
- Terrorism sub-limit of $750,000 included.
- Limits up to $10 million; higher limits considered on referral.
Underwriting Notes and Minimum Premiums
Minimum premium: $1,500. Underwriting focuses on the event schedule, historical attendance or revenue, ticketing and refund policies, contracts with suppliers and talent, contingency plans, and loss history. Provide the event summary, estimated gross receipts or anticipated expenses, key contracts (venue, talent, vendors), and any existing cancellation/rider language when submitting.
Territories and Availability
Available (non-admitted placement through Lloyd’s) in the following states and territories: AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, DC, WV, WI, WY.
Why Work With RISC Inc. on Event Cancellation
- Program underwriting tailored to event risks and promoter needs.
- Access to Lloyd’s capacity for high-limit placements and specialty exposures.
- Flexible wording for outdoor events and special exposures like communicable disease.
- Direct MGA support to help you structure submissions and clarify coverage triggers.
Example scenarios:
- You have a client promoting a weekend music festival with projected gross receipts of $750,000 — Event Select can be quoted on a gross revenue basis with options for communicable disease and weather triggers.
- A regional trade show organizer seeking coverage for exhibitor fees and venue expenses after a keynote speaker cancellation — RISC can offer wording that includes speaker cancellation and enforced reduced attendance.
Contact RISC today to discuss placement or to request sample wordings and submission requirements:
214-954-0707
Frequently Asked Questions
What types of events are a good fit for Event Select?
Events with documented revenue or expense exposure and formal contracts are ideal — concerts, festivals, trade shows, conventions, exhibitions and corporate meetings are typical fits. Outdoor events can be accommodated with specialized wording.
Is communicable disease coverage available?
Yes — a communicable disease option is available where allowed by state regulations. Availability and terms depend on the event details and jurisdiction.
What is the minimum premium and typical limits?
The program has a minimum premium of $1,500. Limits are available up to $10 million, with higher limits available on referral to Lloyd’s capacity.
What information does RISC require with a submission?
Provide an event summary, estimated gross receipts or estimated expenses, copies of venue/talent/vendor contracts, the event schedule, and any loss history. Clear documentation speeds underwriting and quoting.
How quickly can coverage be quoted or bound?
Timing depends on the completeness of the submission and the complexity of the risk. Simple, well-documented single-event submissions are often quoted more quickly; complex or high-limit placements may require additional underwriting review with Lloyd’s capacity.
Need help placing an account? Connect with a market specialist.