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Weather cancellation insurance reduces an organization’s risk in planning an outdoor event. When a company or organization is holding a concert, running a special event, having a sale, or executing any form of outdoor activity and the weather prevents that activity from taking place, the organization risks losing whatever money that has been invested in the planning, organization, marketing ...
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.
Event cancellation insurance typically also covers delay, moving the event to another location, rent for the venue, the artist's pay and ticketing.
Comprehensive travel insurance policies include cover for any cancellation fees or lost deposits relating to cancellation of the insured's person's trip for a range of unforeseen and unexpected circumstances. These include illness or injury, natural disasters and bad weather, [6] strikes and riots, [7] hijacking, and family emergencies. [8]
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In finance, law, and insurance, rescission is the termination of a contract from the beginning (as if it never existed), rendering it void ab initio. In 2009, one judge ruled that borrowers who refinanced into an adjustable-rate mortgage could force a bank to rescind mortgage loans if it acted similarly inappropriately. [ 9 ]
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Some teams have built stadiums with a roof to protect the field, either as a domed stadium or with a retractable roof.Despite this, the Houston Astros, who played at the Houston Astrodome for 35 years and currently play at the retractable roof-equipped Daikin Park, had a rainout at the Astrodome on June 15, 1976 due to intense flooding in the Houston area.
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