This class is written on an insurance and facultative reinsurance basis.  The account consists mainly of coverages for cancellation of events and non-appearance of performing artists. 

We are also a recognised market leader in adverse weather cover. 
A wide range of other types of risk may occasionally be written including individual personal accident.

The Products:

•  Adverse weather
•  Event cancellation
•  Non-appearance
•  Prize indemnity (both statistical and non-statistical)
•  Product recall

Adverse Weather

Markel specialise in insurance against adverse weather for film and photoshoots. Cover can be provided for the absence of precipitation or sunshine, or for wind not being of an excess speed.  Such cover allows an assured to put a fixed figure in the budget for their shoot.

Specific adverse weather cover can also be purchased in respect of event cancellation business.  This cover can be provided for all sizes of event, from small local events to major international sporting fixtures. Where coverage against a specific weather contingency is required (e.g. more than 10mm of rain on the day of the event), historical weather data is required to rate such business.

Event Cancellation

Cancellation insurance is still considered the "bread and butter" of contingency business, and ranges from events as small as a local festival all the way to the FIFA World Cup.

The account consists of both indoor and outdoor risks.  Outdoor risks are generally written with the inclusion of the London Adverse Weather definition.  This clause restricts the weather coverage to such conditions as would pose a dangerous threat to the event or its participants.  Where an insured is seeking coverage against a specific weather risk (e.g. more than 10mm of rain on the date of the event), such risks can only be written with the provision of historical weather statistics.
 
Non-Appearance

Non-Appearance business generally exists for the insurance of music events, although such cover is often provided for situations such as principal speakers at seminars, for example.

Much non-appearance cover is sought for large music tours and many of these placements are made on a layered basis.  Where the business is placed on a layered basis, we generally participate on layers excess of a number of shows, thereby removing ourselves from the short-term illness element of the risk.

Risks in this area are written on the basis of the following information:
- Medical information on the artist(s)
- Medical information on any immediate family members covered by the Family Extension Clause
- Prior commitments of the artist(s)
- Tour schedule
Risks are written subject to the following conditions and exclusions:
- Covered stage warranties for outdoor events
- 30 day health warranties for insured artist(s)
- 12 month pre-existing conditions exclusion for insured artist(s)

Prize Indemnity

Markel has considerable experience in this area of contingency business.

Sales promotions serve as a powerful marketing tool for many businesses and can be very successful in generating income for a company. Purchasing insurance for such promotions allows a company to put a fixed figure in the budget for its proposed promotion.

Statistical Risks -those risks where the mathematical probability of such risks can be calculated.  For the majority of such risks, factorial statistics provide the basis for the calculation.  Controlling the moral hazard is the key to these risks, which are written on the basis that a loss adjuster will be present during the insured event.

Non-statistical risks - where the probability of a loss cannot be calculated mathematically.  Such risks include hole-in-one, half-court basketball shot and 50-yard field goal attempts.  Cover will not be provided for professionals or ex-professionals taking part in the event.