Operating in over 100 countries, Lockton is the largest privately-owned insurance broker in the world. And as a private company, it can focus on serving clients rather than institutional shareholders. Since 2000, Lockton has recorded 10% organic annual growth, with revenues exceeding $1billion.
Clients include event organisers, sponsors, broadcasters, merchandisers as well as sporting organisations, with Lockton’s Accident, Health, Sports & Contingency Division providing them the freedom to achieve the maximum impact from their marketing budgets, whilst protecting their costs, expenses and revenues should something go wrong.
Products include but are not limited to:
- Weather Insurance; applicable to many sectors including leisure, tourism, agriculture, energy & retail, and used to provide financial certainty and income stabilisation across all meteorological circumstances
- Prize Indemnity Insurance; provides cover for prizes that are awarded for achieving certain criteria in promotional competitions, including both games of skill and those of chance.
- Contractual Bonus Insurance; the majority of sponsorship contracts in sport involve a basic retainer and then a performance-related bonus.
- Contractual Bonus insurance can cover a sponsor for their liability in awarding bonuses for attaining certain levels of achievement.
- Non-Appearance/Event Cancellation Insurance; offering comprehensive coverage for cancellation et al. of any insured event. Includes protection for tour managers, venue owners, agents, sponsors and merchandisers working on concerts, sports events and award ceremonies.
- Booking Refund Cover; designed specifically for the hotel and leisure sector, this allows a refund to be offered to customers cancelling a booked room. Now includes pre-bookings with ticketing agencies, car hire firms, airlines and travel agents.
- Death, Disablement, Disgrace Insurance; Sports star or celebrities are often used to raise the profile of events and products. Death, Disablement and Disgrace insurance provides protection for all costs surrounding such a promotional campaign.