The current event event planning industry has seen spectacular growth, enthusiastically supported by the service industry and merging in some places with that of tourism. Effectively using the new social media to increase connectivity and promotion, the events sector mobilizes large masses of people. Whether it's business events and conferences, or large leisure events such as festivals, concerts or sports competitions, cancellation insurance is no longer a luxury, but an indisputable necessity.
Other types of clauses may take on the risks of unforeseen incidents that could result in additional budgets for a promoter. The organiser may have to endure additional costs, such as the installation of a floor on an affected plot by flooding, so that the safety of the participants can be ensured. With an active insurance policy, the organiser can act quickly, knowing that any additional expenses necessary to ensure the success of an event can be recovered. Instead of canceling an event, the profitable solution may be to try to mitigate the risk that threatens it.