Which type of insurance helps protect against loss of revenue due to event cancellations?

Event cancellation insurance is specifically designed to address the financial risks associated with the unforeseen cancellation or interruption of events. This type of insurance typically covers lost revenue that would have been generated from ticket sales and other event-related income. In the context of sports facilities and events, this insurance can be crucial when unpredictable circumstances arise, such as severe weather, natural disasters, or other emergencies that prevent the event from proceeding as planned.

By having event cancellation insurance, sports facility managers can mitigate the financial impact of lost ticket sales and expenses incurred in preparation for the event, thereby ensuring the sustainability of the organization in times of unexpected disruptions. The specific focus of this insurance on event-related issues distinguishes it from other types of insurance, which cover different aspects such as general liabilities, health needs of individuals, or the physical assets of a facility.