Today’s ever-changing business world means that all too often attendees have to miss an event at the last minute. A client has an immediate request. A co-worker needs you to cover for them. Your child gets sick. All are reasons that attendees may have to forfeit their registration fees to an important event. Luckily, Allianz Global Assistance USA, a provider of consumer specialty insurance, has come to the rescue with its latest conference insurance product.
Allianz recently partnered with Embark, a meetings industry consultancy, to create Allianz Conference Protector, a conference insurance product that will refund an attendee’s registration fee if they are unable to attend an event for a reason covered by the company’s policy. The product can also benefit meeting planners who can earn revenue by acting as policy brokers and help save time by outsourcing cancellation requests.
“We’re excited to partner with Embark to launch our new Conference Protector product,” says Pat Young, vice president of sales at Allianz Global Assistance USA. “Conference Protector will provide attendees with a way to protect their conference registration investment while reducing the burden placed on organizers to manage requests for cancellation refunds.”
“We’re pleased to work with Allianz Global Assistance on introducing this new and exciting ancillary revenue opportunity to the conference industry,” adds Embark President David B. Wheeler. “Conference registration cancellation insurance is a product that we expect will be well received by both conference organizers and attendees.”
It’s important to note that conference registration cancellation policies vary by event, and refunds are generally not available after a stated cutoff date. Cancellation fees may also apply even when a refund request is accepted.