A comprehensive wording for an event operator covering loss from cancellation, postponement or interruption, and liability for accidents during the event. It combines event cancellation (CCI) and event liability for concerts, exhibitions, fairs, sports and corporate events.
N2N Insurance Brokerage does not represent any single insurer — it independently represents the client as an FSS-registered broker (Reg. No. 2026-012201). We compare the wordings, rates and service of AIG · Chubb · DB · Hyundai · KB · Meritz to propose the cover and price best suited to your risk. Each insurer's full wording is provided at application and binding.
A comprehensive wording for an event operator covering loss from cancellation, postponement or interruption, and liability for accidents during the event. It combines event cancellation (CCI) and event liability for concerts, exhibitions, fairs, sports and corporate events.
Large music events — natural-disaster and artist-no-show risk.
B2B/B2C exhibitions — participant-accident and cancellation risk.
Conferences and launches — key-person no-show risk.
Tournaments and academic/government events — a natural-disaster combination area.
| Policy period | From event preparation to teardown (usually days to weeks) |
|---|---|
| Payment | Lump sum (before the event starts) |
| Insurers | Chubb · DB · KB · Meritz · Hyundai |
| Turnaround | 3–5 business days / large event 1–2 weeks |
| Channel | Individual consultation with our broker (010-5755-6465) |
If the insured event has already occurred at the time the contract is made, the contract is void. However, where the contract is void due to the company's intent or negligence, or where the company knew or could have known of the nullity before acceptance yet did not refund the premium, the company refunds the premium with interest at the policy-loan rate published by the Korea Insurance Development Institute, compounded annually, for the period from the day after payment to the day of refund.
The specific losses not covered (exclusions) are set out in each insurer's policy wording and product description; on this page, see the “Cover” tab(or the “Losses not covered” section) for the main exclusions. For other cover-specific grounds on which claims are not paid, please refer to the policy wording.
The company provides cover, in accordance with the policy, from the time it accepts the application and receives the first premium. Where the company accepts the application after receiving the first premium with it, cover also begins from the time the first premium was received.
The application must be completed by the policyholder, and the policyholder and the insured must sign it by hand. Failure to sign by hand may result in disadvantages regarding the validity of the contract. On an internet cyber-mall, an electronic signature may be used instead.
The policyholder has the right to be given and have explained the information needed about the product they wish to buy.
The insurer and N2N Insurance Brokerage must explain the important matters of the product to ordinary financial consumers.
When applying, the policyholder, the insured or their agent must disclose truthfully the facts they know regarding the questions in the application (including the questionnaire). Otherwise the claim may be declined or the contract cancelled. Where insurance is taken out by telephone or other means of communication, the duty is performed by answering the seller's questions, which are recorded, without a separate written questionnaire, so answers must be given with particular care.
If, after the contract is made, any of the following arises in respect of the subject-matter insured, the policyholder or the insured must notify the company in writing without delay and obtain endorsement on the policy.
The surrender value is the amount paid if the contract is cancelled early. Unlike bank savings, insurance combines risk protection and savings: part of the premium is paid out as claims to other policyholders who suffer accidents, and part covers the insurer's operating expenses, so the surrender value on early cancellation may be less than the premiums paid, or nil.
Under Article 59-4(1) of the Income Tax Act (special tax credit), for protection-type insurance taken out by an employee only, a tax credit of 12% of the premium paid (capped at KRW 1 million per year) is available. Tax matters may change with amendment or repeal of the relevant tax law.
Except as provided by law, the insurer and N2N Insurance Brokerage do not collect, use, inspect or provide personal data related to this contract — for its conclusion, maintenance and claim payment — without the consent of the policyholder, the insured or the beneficiary. However, for those purposes the insurer may, with the consent of the policyholder and the insured and in accordance with law, provide personal data to other insurers and insurance-related bodies.
The above is a summary and excerpt of the policy wording; for grounds on which claims are not paid and other details, please refer to the policy wording and product description.
Five event types
Large music events. Natural-disaster and artist-no-show risk.
B2B/B2C exhibitions. A participant-accident and cancellation risk area.
Conferences and launch events. A key-person no-show risk.
Tournaments and matches. A Sports Facilities Act combination area.
Academic and government events. A natural-disaster combination area.
An outdoor music festival was cancelled just before the date on a typhoon forecast. Under this wording the natural-disaster-cancellation cover was reviewed, with the wind-speed trigger stated in the wording (e.g. 25 m/s or more) and proof via an official Meteorological Administration warning as the key to the cover process. The refunded ticket value, some artist-fee penalties and venue-hire costs became a combined cover area, while additional loss from a headliner's condition issue was assessed under the separate "key-person non-appearance" area. A case showing that event insurance combines not just natural disaster but a comprehensive person-and-facility area.
Source: (General industry example)
The wording and structure points decision-makers most often overlook
Natural-disaster cover has a wind-speed/rainfall/Meteorological-Administration-warning trigger that differs by wording. If official data falls below the wording threshold, cover does not operate, so an outdoor event must check in advance that site measurement matches the wording trigger.
Since COVID-19 many wordings state pandemic/infectious-disease effects as an exclusion. Where cover is needed, whether a separate endorsement is available must be checked precisely by insurer, and the insurers that can offer it are limited.
Some events (under the Performances Act, the Sports Facilities Act) combine compulsory participant-accident cover. The compulsory limit and this wording's event-liability limit differ, so preventing a cover gap at combined design is key.
The questions decision-makers ask most when considering event insurance
Event insurance is a comprehensive wording covering an event operator's loss from cancellation, postponement or interruption, and the liability for accidents during the event. Concerts, exhibitions, fairs, sports events and corporate events are within scope, combining event cancellation (CCI) and event liability.
Usually (1) cancellation/postponement from natural disaster (typhoon, heavy rain, strong wind), (2) non-appearance of a key person (artist, speaker), (3) interruption from a venue-facility accident, (4) participant-accident liability (facility liability), (5) in some wordings, pandemic effects such as COVID-19 (endorsement), and (6) refund and publicity loss.
Concerts/festivals, exhibitions/fairs, corporate events (conferences, product launches), sports events, weddings/banquets, conferences/seminars, and government/public-body events are usually eligible. The wording combination differs with scale and risk.
Cancellation from typhoon, heavy rain, strong wind or lightning is a core area. But the wind-speed/rainfall trigger differs by wording, and some wordings operate the trigger on official Meteorological Administration warnings. Natural-disaster cover is essential for an outdoor event.
Some events combine compulsory participant-accident cover under the Performances Act or the Sports Facilities Act. The compulsory limit and this wording's event-liability limit differ, so preventing a cover gap at combined design is key.
Since COVID-19, many wordings state pandemic/infectious-disease effects as an exclusion. Where cover is needed, whether a separate endorsement is available must be checked precisely by insurer, and the insurers that can offer it are limited.
The insurer assesses it on the event type and scale, the venue (indoor/outdoor), pre-event spend, the key cast and the cover scope. The exact premium and acceptance are confirmed after underwriting by insurers such as AIG, Chubb, DB, KB, Meritz and Hyundai.
