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Event cancellation insurance typically also covers delay, moving the event to another location, rent for the venue, the artist's pay and ticketing.
Cancellation (insurance) Cancellation of an insurance policy before the end of the policy period has the effect of ending the insurance coverage on the date of the cancellation. This can result in a partial return premium which can be calculated in different ways depending on the method specified in the policy.
The cancellation of the event cost the organizers an estimate of $2 million in losses. [52] Some of the winners were acknowledged at the 44th Grammy Awards. Furthermore, the attacks influenced the National Academy of Recording Arts and Sciences to hold the 2003 Grammy Awards ceremony in New York City as part of the "healing process".
The Terrorism Risk Insurance Act (TRIA) ( H.R. 3210, Pub. L. 107–297 (text) (PDF)) is a United States federal law signed into law by President George W. Bush on November 26, 2002. The Act created a federal "backstop" for insurance claims related to acts of terrorism. The Act "provides for a transparent system of shared public and private ...
Some insurers are excluding Israel, Lebanon and other Middle Eastern countries from their event cancellation policies after the Israel-Hamas war resulted in some activities being pulled. European ...
Yes, your insurance company can cancel your coverage. If you do not pay your premium on time, lie on your auto application or your driver’s license gets suspended or revoked, your insurer could ...
A force majeure may work to excuse all or part of the obligations of one or both parties. For example, a strike might prevent timely delivery of goods, but not timely payment for the portion delivered. A force majeure may also be the overpowering force itself, which prevents the fulfillment of a contract.
In insurance, mid-term adjustment (MTA), also called a mid-term modification or mid-term change, refers to a change to an insurance policy prior to the end of the policy period (when coverage is offered). The change to the policy may cause a change in the premium: an increase is often called AP (for an additional premium) whereas a decrease is ...
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