How does the Event Cancellation Refund Program work?
Things happen. Sometimes things even happen that are beyond your control. Like the entire onion being pulled out of the onion ring on your first bite so all you're left with is a big handful of crunchy batter ring, sans onion.
As if that's not frustrating enough, imagine that you have to cancel your event for something beyond your control. Most likely this wouldn't be related to onion rings, but more likely weather. Or, heaven forbid, terrorism.
There has been a sharp increase in weather-related event cancellations. These can put event directors at great financial risk. There are sunk costs and upset participants who want their registration fees back.
Event cancellation insurance, when purchased independently, can cost $10k - $25k per year.
We can provide coverage with no out-of-pocket expense to you. This means tremendous peace of mind for you and for your participants. And it’s backed by Tokio Marine HCC - Specialty Group.
This is the imATHLETE Event Cancellation Refund Program.
HOW IT WORKS
- You tell us you want event cancellation coverage (email firstname.lastname@example.org to have it enabled). It will apply to all of your events.
- We add 0.9% plus $0.45 to your existing service fee, paid by each participant.
- We put information on your registration page letting participants know they are covered. They will see this logo:
- You market this to potential participants. Participants are ecstatic.
- You sleep soundly.
IF YOU HAVE TO CANCEL
If you have to cancel or postpone your event more than 90 days:
- Check to be sure it’s for a covered reason (see The Event Cancellation Coverage Policy here)
- Fill out the Event Cancellation Claim Form
Note: Claims will not be made on the Event's behalf until 7 business days after the month in which the last registration was accepted. Should you choose to expedite the process, the last month of registration fees may not be considered in the claim.
- imATHLETE refunds the participants - up to $10M ($1M for events that launched prior to May 1, 2018).
Isn’t that a relief!
* for companies that opt into Event Cancellation Insurance, it is $10,000,000 coverage for events that opened for registration on imATHLETE May 1, 2018 or later and $1,000,000 coverage for events that opened for registration on imATHLETE prior to May 1, 2018
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