Rain Insurance

Rain Insurance

A type of business interruption insurance that pays for business expenses and lost income due to rain. For example, if a baseball game is rained out, rain insurance may provide a benefit to a t-shirt vendor outside the stadium. It is not property insurance and does not cover damage to facilities. As with all insurance, one must pay a premium to receive the benefit.
References in periodicals archive ?
If the recent chaotic controversy surrounding the Chubb Group dealings with farmers in the midwest over "rain insurance" has spawned nothing else, it has resulted in focusing attention on an insurer's relationship with its managing agents.
Liverpool International organisers have taken out rain insurance once again and if there is less than an hour's play on any given day spectators will be entitled to a refund.
Anyone with tickets will get a full refund, minus booking fees, under the rain insurance policy.
According to The Age, the deal ends more than a year of tense negotiations, after Cricket Victoria resisted the temptation to ease its hefty rain insurance bill playing one-day internationals beneath the roof at Docklands.
I make sure that the new tri-fold ad is laid out on the computer and follow-up on sponsorships, signage, rain insurance and whatever else needs to be done."
Now in its eighth year, the Maui Film Festival is the rare cine-confab that must work rain insurance into its budget.
Weather insurance was initially sold to the outdoor entertainment industry as rain insurance for sporting events, musicals, county fairs, outdoor charity events and film screenings.
As an inland marine underwriter over 40 years ago, I underwrote rain insurance policies on air races and sports car shows.
All tickets were covered by rain insurance, so the spectators will get refunds because there was less than one hour's play.
They got the final they wanted with a guaranteed 30,000 sell-out crowd, as well as recouping pounds 120,000 in rain insurance from yet another Centurion Park wash-out.
Put it this way, I expect the rain insurance payments have gone up this year!"
Concessions apply to OAPs and children under 16, and all ticket prices include rain insurance which guarantees a 100 per cent refund (minus any charges already paid) if there is less than one hour of play on the day.