tradeshow and exhibition cancellation insurance presentation

Event Cancellation Event Cancellation Insurance Insurance

BUTTINE EXHIBITION INSURANCEBUTTINE EXHIBITION INSURANCE33 E 33d Street, 533 E 33d Street, 5thth Floor Floor

NEW YORK, NY 10016NEW YORK, NY 10016T 800.964.4454, ext 21T 800.964.4454, ext 21

F 212-208-3076F 212-208-3076jmb@buttine.comjmb@buttine.com www.buttine.comwww.buttine.com

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Event Cancellation InsuranceEvent Cancellation Insurance“Event Cancellation Insurance – a

form of customer service” Jack Withiam, Jr. GLM LLC

• Pays anticipated profit• Pays incurred expenses• Allows return of sponsorships,

exhibitors fees and education/seminar charges

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Event Cancellation InsuranceEvent Cancellation Insurance

What it does for you …

• It pays the incremental cost of “making it happen” in event of loss

• Pays the cost of rescheduling the event in same or new location

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When to purchase Event When to purchase Event Cancellation InsuranceCancellation Insurance

• Now! … You have an economic interest in the

’13-15 shows today: i.e. when your ’12 events conclude, you started to incur cost … sale of space, hall lease, promotions, etc. budget income, etc.

• The rate is the same 2 months away from your event as it is 24 months – the more in advance you buy, the more you benefit from the coverage

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What Event Cancellation What Event Cancellation Insurance CoversInsurance Covers

• Hurricanes• Floods• Power Outage / Blackouts• Tornadoes• Earthquakes• Building / Venue Damage• Strikes• Terrorism & Communicable Disease … many

coverage options are available

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Event Cancellation Insurance Event Cancellation Insurance CostCost

• Rates are determined by:Location and Event Dates

• “rates’ are usually less than .3-.5% of revenue – more for areas prone to EQ and hurricane, and cost of terrorism and CD

• Policy Limit equals the show revenue

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Event Cancellation InsuranceEvent Cancellation InsuranceHow a claim is paidHow a claim is paid

The Principles …Budget: Gross Revenue $1,000,000

Expenses $ 750,000 Profit $ 250,000

A claim example – total loss occurs before opening ...– Paid 100% exp @ time of loss $ 750,000– Cash in Bank @ loss $ 250,000– Refunds @ total loss a. $ 250,000– Ins Co 1st Payment b. $ 750,000– Ins Co 2d Payment c. $ 250,000

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Event Cancellation InsuranceEvent Cancellation InsuranceHow a claim is paidHow a claim is paid

The steps are …– At the first hint of a claim, call Buttine –

always at night and on weekends– We can assist with communications to your

exhibitors– A special type of Loss Adjuster will call you– We are with you ‘every step of the way’– Knowing attendance history is key to settling

losses promptly

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One more thing … for ExhibitorsOne more thing … for Exhibitors

• Exhibitor Liability saves show managers’ policies from paying “other peoples claims”.– Many exhibitors do not have insurance so an

insurance requirement is a ‘good thing’– Foreign exhibitors’ insurance may not pay

claims in the U.S.

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ShowDownShowDown® Exhibitor Event Exhibitor Event CancellationCancellation

… “the world's best form of sleep insurance” for exhibitors

• Unique in the US exhibition and event industry• Covers exhibitors’ incurred costs if a show does

not go ‘as planned'• Loss examples include cancellation of the event

due to weather, a shipment's late arrival, unavailability of key staff due to illness or injury, and terrorism

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Event Cancellation InsuranceEvent Cancellation Insurance

This concludes our presentation …

… What are your questions?

Jack M. ButtineBUTTINE EXHIBITION INSURANCE

New York, NY(800) 964 4454, ext 21

jmb@buttine.comwww.buttine.com