“In the interest of public safety” organizers cancel the Saturday performances of the two-day, three-staged Digital Dreams outdoor music festival due to poor weather conditions. With acts such as DJ Armin van Buuren, Steve Angello, and Dubfire scheduled for the day, fans expressed their aggravation at missing out on some of the big-name artists.
Organizers agreed to give patrons full refunds on their one-day tickets, and 50% refunds on their weekend passes. Ticket prices ranged from $119.99 to $299.99, totaling to potential losses in the millions. However, fans were also demanding organizers cover additional costs such as hotel and travel.
On top of the huge loss in revenue from the thousands of refunded tickets, Sunday’s entrance was delayed by 2 hours to allow for repairs to the festival’s infrastructure and stages caused by damaging winds from Saturday’s weather system.
Extreme weather conditions are an example of why Weather Protection Insurance should be a priority for organizers of outdoor events. By insuring an event against high winds, rain, or even cloud cover, organizers can guarantee the bottom line is protected.
IC Specialty Brokers’ Weather Protection Insurance is a risk management tool used to protect revenues and limit costs and expenses caused by unideal weather exposure. Solutions are customized to each event and the conditions that could cause cancellation or postponement. .
Organizers should not have to worry about the loss of millions of dollars in revenue when they can pass on that risk to a Lloyd’s of London insurance solution provider.
- Cancellation Insurance