Located in New York, USA
Many of our clients who organize tradeshows and conferences tell us that registration refunds are a problem for them. They lose revenue when they give refunds and when they don't, attendees/exhibitors are frustrated and sometimes angry.
Another fear is an unexpected event causing numerous amounts of these folks not to be able to attend, multiplying the amount of refunds, creating a dangerous amount of lost revenue.
Through the years, attendees and exhibitors have contacted us for this type of coverage as well.
A short recap of the Inability to Attend Program:
Why we developed it:
We currently provide insurance to over 3000 tradeshows/conferences annually. Over the past few years many of our clients came to us with a similar problem.
The problem? When attendees and or exhibitors register for an event, and then at some point between the time they register and the start of the event, they cancel and ask for a refund. And typically it's just a few days from the start of the event when they do this.
Acting on client requests, we worked with Lloyd's of London and built what they are now telling us is the "perfect insurance solution". We call it Inability to Attend.
How it Works:
The insurance is paid for by the show's registrants. The cost is approximately 3.5% of their registration and is built into each registration (attendees and or exhibitors).
So for example, it registrations cost $1000, the insurance would cost just $35 making the new registration price $1035.
Each registrant is insured from the moment they register right through the first day of the event. Should they need to cancel, they no longer contact show management. Instead, they go directly to our claims website (see LINK on right side of page), upload proof of why they cannot attend, and we issue them a 100% refund, even if they cancel on the first day of your event.
The organizer always keep all registration fees and never issues a refund again! They are kept out of the "cancellation loop" which our clients tell us, solves the other part of their problem.
A further benefit the show organizer? Upon the end of their event(s) we will pay them an administration fee. So the program will become a new source of revenue as well.
It's a Win-Win for the organizer, their exhibitors and attendees.
Most event organizers have a similar attendee refund policy. They call it the “30 Day Rule”.
Attendees and Exhibitors that cancel prior to 30 days of the event receive partial refunds, while those that cancel within 30 days receive no refund. This is an antiquated rule, one in which your customer is never fully compensated and your organization loses revenue.
It was for this reason that some of our clients asked us to develop a new and improved refund policy.
Inability to Attend provides that solution by replacing "The 30 Day Rule" with a far more appealing model.
Your customers will appreciate receiving a full 100% refund, no matter when they cancel, while you keep all the registration fees. You will also see immediate benefits by transferring the burden of refund requests to the insurer, with lost revenue from these cancellations now paid through the insurance policy, not by you.
There is no cost to you.
Rainprotection Insurance handles everything. Our claims department provides an online claims website that will manage all claims and issue refunds.
Attendees and Exhibitors are insured from the moment they register until the first day of the event.
Whether they enter a claim 6 months out or 30 days after the event, the policy will provide them with a 100% refund should they be unable to attend due to a covered reason in the policy.
You will no longer need to provide refunds or have those awkward and sometimes painful conversations with your customers due to them being unable to attend!
Underwritten by: Lloyd’s of London