Ticket Refund Insurance Policy
We, Marketform (herein after referred to as ‘the Underwriters’)
hereby agree, in consideration of the payment made by or on behalf of the Assured
of the premium specified in the Schedule, to indemnify the Individual Person(s)
being clients of the Assured to the extent and in the manner provided in this
Policy of Insurance.
- 1. INSURING CLAUSE
- Subject always to the terms, conditions, limitations and exclusions contained
herein or endorsed hereon, this Insurance is to indemnify the Individual
Person for their Ascertained Net Loss should, as a direct result of any
cause beyond their control they be unable to attend an event, or arrive
at their intended venue or destination such that they are unable to partake
in or take up their pre paid ticketed event such as to incur financial
loss including loss of deposit or such as to incur a cancellation fee or
charge as per 1.2 below.
- Underwriters shall indemnify the Individual Person against
their inability to attend or are caused to arrive late thereby being unable
to take up or attend a booked performance as a direct result of:
- Incapacity of the Individual(s) through accident or sickness prior to the
date of the booked event.
- Death of the Individual Ticket holder or of a member of their immediate
family within thirty days prior to the date of the booked event.
- Accidental damage of the transport in which the Individual Insured Ticket
holder is travelling to the venue.
- The mechanical breakdown of the transport in which the Individual Ticket
holder(s) travels or intends to travel.
- Strikes, Riots, Civil Commotion (including acts of Terrorism), Martial
- Restricted access caused by Flood, Fire, Explosion or through the act of
a constituted authority to protect Public Health and Safety.
- Inability to attend due to adverse weather, including snow, fog, frost
- This insurance further provides indemnity for proven additional
costs or charges reasonably and necessarily paid by the Individual Insured
in excess of the actual face value of the insured ticket at the time of purchase,
being either a booking fee and/or commissions charged by the Assured or
- The Underwriters maximum liability shall not exceed the Limit of Indemnity
stated in the internet booking form or confirmation of purchase.
- The absolute time limit for submitting a claim by the Insured Person(s)
shall be thirty (30) days after the date of the booked event, or commencement
date to which a booking or reservation is made after which time limit has
been passed the Underwriters shall be off risk and no claim shall be indemnified
- 2. DEFINITIONS
- Ascertained Net Loss for the purpose of this insurance means such sums
paid by the Individual Person(s) to the Assured for their ticket purchases.
- Venue means the place(s) as stated in the Schedule and detailed on the
individual ticket purchased where the Insured Event(s) are to be held.
- Accident means a sudden, unexpected and unintended, specific event which
occurs at an identifiable time and place.
- Bodily injury means an identifiable physical injury, including illness
resulting from such injury, which is caused by an accident occurring after
the ticket was purchased.
- Illness means an illness which is sufficiently dibilitating to prohibit
safe movement of the individual concerned and their inability to travel
and which did not exist before the ticket was purchased.
- Event means the particular performance for which the ticket was purchased.
- 3. CONDITIONS PRECEDENT
It is a condition precedent to the liability of the Underwriters that the
- Truthfully declared all material facts.
- Has no knowledge at inception of any undisclosed matter, fact or circumstance,
actual or threatened, that increases or could increase the possibility
of a loss under this insurance.
- Paid the premium due in accordance with the written conditions of the
agreement with Underwriters.
- 4. WARRANTIES
It is warranted that the Assured shall;
- Observe and comply with the requirements of any law, ordinance, court
or regulatory body of whatever jurisdiction.
- Ensure that all necessary contractual arrangements have been made and
confirmed in writing with the Assured in regard to the tickets they sell
to the Individual Insured Ticket holder(s).
- The ticket is purchased by the Ticket holder for his own enjoyment and
not purchased for resale as a commercial product.
- 5. GENERAL CONDITIONS
- Any fraud, misstatement or concealment in the information provided or
in the making of a claim shall render those claims forfeit.
- 5.2 The Assured and the Insured Person(s) shall at all times take all reasonable
care and measures to avoid or diminish a loss under this insurance.
- This Insurance and Schedule shall be read together as one contract and
any word or expression to which a specific meaning has been attached in
any part of this Insurance or Schedule shall bear such meaning wherever
it may appear.
- Observe and fulfil the terms and conditions contained herein or endorsed
- Any costs or expenses incurred in the formulation of a claim hereunder
shall not be recoverable items.
- The premium being prepaid and this Insurance being therefore non-cancellable.
- The Assured shall maintain adequate records, satisfactory to the Underwriter,
in connection with the subject matter insured hereunder.
- In the event of any incident which may give rise to a claim under this
insurance the Individual Insured shall advise the Underwriters as soon
as is reasonably possible and within 30 days of the knowledge of such an
incident arising giving such relevant information and evidence as may reasonably
be required by the Underwriters or their appointed representative and co-operate
fully in the investigation and adjustment of the claim.
- The unused insured ticket(s) are to be returned to the Underwriters or
their appointed representative before any claim may be made under this
Insurance. This return being as soon as practically possible following
the incident which led to a claim being made under this Insurance.
- All returns, recoveries and payments due to the Assured or the Individual
Insured following a loss, paid or otherwise, are to be for the benefit
of Underwriters hereon.
- The Underwriters reserve the right to pursue any action for recovery
from any party, whether before or after payment of a loss, at their sole
discretion and in the name of the Assured or otherwise. In the event
of any payment under this Insurance, the Underwriters shall be subrogated
to the extent of such payment to all the Assureds’ rights of recovery
and the Assured shall execute all papers required and shall do everything
that may be necessary to secure such rights.
- As the Loss Payee is other than the Assured, all claim payments due under
the terms and conditions of this Insurance shall be made payable to the
party(s) detailed in the Schedule as Loss Payee(s). Payment of such
losses by the Underwriters to the Loss Payee(s) shall be a sufficient and
complete discharge of all of the Underwriters obligations to the Assured
and Loss Payee(s) in connection with said loss(es).
- Unless the Assured requested and the Underwriters agreed otherwise in
writing this Insurance is mutually agreed to be governed and construed
in accordance with the laws of England whose courts shall have jurisdiction.
- 6. EXCLUSIONS
This insurance does not cover any loss directly or indirectly arising out
of, or contributed to by, or resulting from:
- Any contractual dispute or breach by the Assured.
- The Assureds’ lack of care, diligence or prudent behaviour, the
results of which would increase the risk, and/or likelihood of a loss hereunder.
- The Assured failing to observe and comply with the requirements of any
law, ordinance, court or regulatory body of whatever jurisdiction.
- Any fraud, misrepresentation or concealment by the Assured and/or the
- Actual or threatened War, invasion, act of foreign enemies, hostilities
(whether war be declared or not), civil war, rebellion, revolution, insurrection,
military or usurped power, confiscation, nationalisation, requisition or
destruction of or damage to property by or under order of any government
or public or local authority.
- Losses arising from any financial failure of or financial default by
- Losses arising from lack of or inadequate receipts or sales.
- Loss or damage caused in whole or part by nuclear reaction, nuclear radiation
or radioactive contamination.
- Failure of the Individual Insured in the event of bodily injury or illness
to consult a duly qualified medical practitioner and comply with the medical
advice given thus causing a loss in whole or part under this insurance.
- Death, bodily injury or illness directly or indirectly caused by or resulting
from; suicide or intentional self injury, criminal act, any condition which
existed prior to the inception of the insurance.
- Cancellation, Abandonment, Postponement, Rescheduling or Relocation of the booked event(s)
- 7. CLAIMS PROCEDURE
- The Individual Insured Ticket holder shall as a matter of urgency, using
the dedicated telephone line (provided by the Underwriters) advising Underwriters
of the incident, confirm the facts as soon as possible in writing and take
all steps to minimise their loss as directed by Underwriters.
- Provide the Underwriters or their appointed representatives with, all
information requested including all documentation and records necessary
to assess indemnity hereunder.