While specialty insurers writing coverage for risks ranging from oil platforms, to trucks, to construction projects have reported lower demand in 2009, those working with customers in the sports and entertainment industries still draw crowds.
Not every player in the market is packing them in, but most underwriters and brokers specializing in event liability insurance and cancellation coverage–a niche that extends from covering bake sales and trade shows to the Olympics–reported higher or steady demand for insurance in 2009 during recent interviews with National Underwriter.
Chris Rackliffe, a contingency underwriter for Beazley in London, suggested that a poor global economy might paradoxically be one factor prompting more interest in coverage against cancellation, non-appearance and other contingency risks.
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