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.

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:
  1. Incapacity of the Individual(s) through accident or sickness prior to the date of the booked event.
  2. 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.   
  3. Accidental damage of the transport in which the Individual Insured Ticket holder is travelling to the venue.
  4. The mechanical breakdown of the transport in which the Individual Ticket holder(s) travels or intends to travel.
  5. Strikes, Riots, Civil Commotion (including acts of Terrorism), Martial Law.
  6. Restricted access caused by Flood, Fire, Explosion or through the act of a constituted authority to protect Public Health and Safety.
  7. Inability to attend due to adverse weather, including snow, fog, frost or storm.
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 as applicable.
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 thereafter.
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.

It is a condition precedent to the liability of the Underwriters that the Assured has,

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.

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.
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 hereon.
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.

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 Individual Insured(s).
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 anyone.
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)
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.