Wednesday, April 27, 2011
Whether or not youâ€™re planning to watch the marriage of Prince William to Kate Middleton this Friday April 29, itâ€™s almost impossible to escape coverage of the event, even in the insurance world.
Cancellation insurance is a key coverage when it comes to royal weddings. The article cites one industry expert suggesting limits of 10 million to 20 million Euros ($15 million to $30 million) are not uncommon for such events.
That would include cancellation due to a major illness or death of the bride or groom or other named wedding party members, BestWire reports.
Meanwhile, for those hosting a street party — a British tradition that dates back almost a century — insurance is a must.
In an article on its website, Lloydâ€™s explains that most councils and local authorities in the United Kingdom require you to have Â£5 million to Â£10 million ($8 million to $17 million) in public liability insurance to be able to hold a street party.
Due to increased interest ahead of the big day, specialist insurance productsÂ have been developedÂ to cover street party risks and enable people to go ahead withÂ their festivities, according to Lloydâ€™s.
(Photo courtesy of http://www.princeofwales.gov.uk)