SARS Excluded From Event Policies
Friday, April 18th, 2003 Life & Health PropertyCarriers who insure against cancellation of public events are already refusing to issue coverage for losses related to severe acute respiratory syndrome, but for other insurance lines SARS exclusions have yet to appear, according to insurance brokers and consultants. In addition to discussing event cancellation, the experts who spoke with National Underwriter shared mixed views on the possibility of exclusions for lines such as workers‘ compensation and business interruption. Scott Brady, a director for Aon Corp. in New York, said that all insurers writing event cancellation coverage for his clients are excluding SARS. "Event cancellation is a ‘force majeure‘ type of policy, which means anything beyond the control of the owners or promoters of the event would normally be covered," Mr. Brady explained.
