Cancellation insurance covers the financial loss if your event cannot go ahead due to circumstances beyond your control. Think of extreme weather (storms, flooding) or fire at the venue. Also serious illness of an irreplaceable speaker or a government order banning the event.
What you won't get covered: pandemics (excluded by most policies since COVID-19). Also too few sign-ups, bankruptcy of the organiser or cancellation on your own initiative.
Always read the policy for exclusions before signing. The devil is in the detail.
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