National Mourning – A highly sensitive issue with potentially devastating impact on multiple events
It saddens us to consider the harsh reality but we have a duty to all Organisers to make them aware of the coverage available from the UK insurance market to protect their events from what is unfortunately but eventually inevitable.
We have a Queen aged 90 and the Duke of Edinburgh is 95. Other Royals are in their senior years as well of course. No matter how little any of us want to talk or think about this, it is reasonable to expect we will enter into at least one period of National Mourning at some point in the not too distant future.
For Queen Elizabeth II the mourning period is likely to be at least 12 days between her passing, the funeral and beyond. During this time Britain and perhaps parts of the Commonwealth will grind to a halt. The cost to the British economy will be billions in lost earnings and disruptions. Stock markets and banks are likely to close for a period of time and the funeral and the subsequent coronation will become formal national holidays, each with an estimated economic hit to GDP of £1.2billion – £6 billion. *
It’s likely to be a strange, uncertain time. The vast majority of British citizens have never known life without our Queen and her husband, the Duke of Edinburgh.
Organised events of all sizes taking place at the time when any sombre announcement is made could be affected immediately or any following days be jeopardised by exhibitors, visitors and the general public’s reaction. It is highly likely events scheduled to take place during the period of National Mourning and of course on the subsequently chosen date of a state funeral will be instructed or expected to be cancelled or re-arranged.
It is possible still to insure against this potential loss to your business. Some Organisers cancellation policies provide some cover for this as standard – others restrict it to those members of the Royal Family under 65 years of age.
If you wish to discuss ways of making sure you have adequate cover in place to protect your revenue or associated costs please contact us now.
*Source – The Business Insider Article published in 2015 titled “The death of Queen Elizabeth will be the most disruptive event in Britain in the last 70 years”
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