In the wake of July 2012’s Great Yorkshire Show cancellation, the importance of having event insurance is now more apparent than ever.
The cancellation didn’t just impact farmers and the wider agricultural community – exhibitors and traders were also left inconvenienced and out of pocket. This is especially concerning for organisers who now find it increasingly difficult to attract sponsorship and exhibitors in the current economical climate.
Malton-based insurance broker McClarrons Ltd understands how the financial effects of an event cancellation are particularly damaging for organisers. Sean McClarron, Managing Director at McClarrons Ltd commented: “We have seen a significant increase in the number of event insurance enquiries recently, not only from rural show organisers but also committees planning fundraising activities up to the year end and beyond.”
Locally, the weather proved favorable for the recent Malton Show and organisers are confident that other local shows will go ahead. The demand for insurance cover for cancellation costs has increased with some industry experts estimating that the total cost to the rural economy of 2012’s cancelled shows could be as high as £240 million.
“Although organisers may think that their existing event insurance policy is suitable, it is important to check for specific exclusions such as adverse weather, especially if the cover is taken out less than 14 days prior to the event date,” added Sean McClarron.
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