BE MEMBER SURVEY: ABANDONMENT |
Abandonment Insurance Policy
Dear member,
British Eventing currently have an abandonment insurance policy in place which pays for the refund of entry fees in the event of cancellation or abandonment of an event (due to non COVID-19 related reasons). This abandonment insurance premium is a mandatory element of the entry cost that you pay. Today the cost of this premium ranges between £8.91 to £57.33 (14.8% of the entry fee) depending upon the level of class entered.
Currently if an event abandons or cancels for non-Covid reasons you will receive the total amount you paid minus the abandonment insurance premium (this equates to an 87% refund).
The current policy finishes at the end of 2021 and early indications from the market are that the cost of this insurance is likely to rise next season to fully cover the level of refunds currently on offer.
Before renewing any insurance policy BE is keen to understand from the membership the level of refund that members would favour so we would like to know your response to the question below. Please bear in mind that on average 1 in 12 events abandon or cancel each year.
British Eventing currently have an abandonment insurance policy in place which pays for the refund of entry fees in the event of cancellation or abandonment of an event (due to non COVID-19 related reasons). This abandonment insurance premium is a mandatory element of the entry cost that you pay. Today the cost of this premium ranges between £8.91 to £57.33 (14.8% of the entry fee) depending upon the level of class entered.
Currently if an event abandons or cancels for non-Covid reasons you will receive the total amount you paid minus the abandonment insurance premium (this equates to an 87% refund).
The current policy finishes at the end of 2021 and early indications from the market are that the cost of this insurance is likely to rise next season to fully cover the level of refunds currently on offer.
Before renewing any insurance policy BE is keen to understand from the membership the level of refund that members would favour so we would like to know your response to the question below. Please bear in mind that on average 1 in 12 events abandon or cancel each year.