Following Superstorm Sandy, one thing became clearer to Beazley:there is a need for event cancellation coverage.
Beazley, a leading insurer of event cancellation and other formsof contingency business at Lloyd’s, says it will start underwritingthe risk in the United States beginning in 2013.
“Superstorm Sandy highlighted once again the need on the part ofthe event organizers for robust event cancellation coverage,” saysChris Rackliffe, head of Beazley’s contingency team, in a statement“We see great opportunity in the U.S. market.”
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