insuranceEdmonton cancels k-days for the second year in a row
event insurance

Edmonton Cancels K-Days for the Second Year in a Row

K-Days, Edmonton’s annual 10-day summer carnival and fair, has been cancelled for the second summer in a row due to Covid-19 public health restrictions. 

Many people were upset as they looked forward to the carnival rides, food trucks, and live concerts offered during Edmonton’s yearly tradition. However, K-day’s event organizer, Edmonton Northlands, is just as upset as Edmontonians. Fortunately, event cancellation insurance exists for unforeseen circumstances such as this.

With the cancellation of events occurring more often nowadays to avoid the spread of Covid-19, event cancellation insurance is an asset that many organizations consider. Event cancellation insurance protects organizations if they have to cancel or postpone events, festivities, and special events due to unexpected circumstances. 

Event Cancellation Insurance 

Event cancellation insurance policy can cover any costs and expenses that must be paid due to the cancellation or postponement of an event. Some fees and expenses that need to be considered are reimbursements, paying for contracted services, and compensation. There are many reasons why an event may be cancelled, but by the time that happens, we must be ready to think on our feet and act quickly to avoid further troubles and stress. Event cancellation insurance can cover:

  • Severe weather
  • No show guests
  • Food poisoning
  • Crime scene at the venue
  • Terrorism threats or riots
  • Power failure

However, event cancellation insurance generally does not cover cancellation due to lack of ticket sales or small attendance. Not all Event cancellation insurances are made equal, so make sure to consult your insurer about what your policy includes and excludes. 

Regardless of how big or small an event is, organizing one requires substantial preparation, management, and communication with third parties. Although you may have been planning a particular event for an extended period, an utterly foolproof plan does not exist as many external risks are unavoidable. For instance, Covid-19 was one of these external risks. Another example of an unavoidable incident could be natural disasters like a heavy rainstorm. These are all unforeseen circumstances, and no person can accurately predict these events, hence the importance of event cancellation insurance if you decide to host an event. 

 

Reference

“Edmonton's K-Days Cancelled for Second Straight Year | CBC News.” CBCnews, CBC/Radio Canada, 1 June 2021, www.cbc.ca/news/canada/edmonton/k-days-edmonton-cancelled-covid-1.6048935.

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