Contingency insurance relates to the insurance of unpredictable, catastrophic losses. This is a specialty niche which is for one-time events or unique ventures which may never occur but if they did there could be a considerable cost. It arose out of the need to indemnify sponsors or promoters for the losses sustained as a result of events clearly beyond their control.
The various categories of Contingency Insurance are:
- Event cancellation insurance
- Non-appearance insurance
- Weather-related coverages
- Contractual bonuses insurance
- Judicial delay coverage
- Death & disgrace insurance
- Prize indemnity insurance
L.J. Gosselin & Associates
332 Glebeholme Blvd.
TORONTO ON M4C 1V1
Toll free: 1-800-661-3448
Mobile: (416) 346-9526
|Head Office in Toronto,
serving all of Canada
except P&C in Manitoba
Whether a special event is disrupted or cancelled, a key individual does not appear,
a $1,000,000 prize could be won or an advertising campaign must be guaranteed of the health and/or morals of a visible spokesperson,
one has, sooner or later, to resort to Contingency Insurance. The following product lines are available:
- Weather Insurance
- Event Coverage: concerts, air shows, film & advertising, special events
- Sales Promotions: auto dealers, jewellers, etc.
- Income/Expense Stabilization: Utility companies, garment manufacturer, snow removal
- Event Cancellation
- Trade/Consumer Shows, Conferences, Special Events
- Fund Raisers, Concerts, Theatre & Film
- Death & Disgrace
- Individual Athlete or other High Profile Sponsorship
- Advertising Campaigns
- Judicial Delay
- Also covers the continued well-being of a judge (age, risky hobbies)
- Contractual Bonus
- Sports Organizations or Sporting Events (Olympic or World Records)
- Individual Athlete Sponsorship
- Prize Indemnity Insurance
- Games of Skill: Hole in One, Shoot the Puck, Football Toss or Kick, etc.
- Games of Chance: Scratch & Win, Sports Results, Internet Based, Random Number Combinations, etc.
Our office specializes in Contingency Insurance since 1988 and, as Wholesale Managing Agents, we have access to several licensed insurance markets, in addition to being Open Market Correspondents at Lloyd's.