Beazley introduces event cancellation cover

Beazley PLC has introduced hybrid event cancellation coverage for U.S. companies for hybrid events that mix aspects of physical and virtual elements, the company said in a statement Jan. 12.

The product is available to U.S.-domiciled businesses on a surplus lines basis.

The hybrid event cancellation offers coverage in a single policy against both physical and virtual threats that could lead to cancellation, abandonment, interruption, postponement, relocation, or curtailment, Ryan McFadden, contingency underwriter at Beazley, said in a statement.

Coverage includes third-party infrastructure failure, errors and omissions leading to computer system failure, host platform failure, venue closure, adverse weather, terrorism and more.

Limits are available up to $50 million for physical in-person events and up to $10 million for virtual transmission, according to product information from Beazley.