DeWitt Stern Protects Super Bowl Revenue
In an end-around other brokers, DeWitt Stern designed an event cancellation policy designed to protect businesses from lost revenue if next year’s Super Bowl does not take place as scheduled in MetLife Stadium in East Rutherford, N.J.
Super Bowl XLVII is the first Super Bowl set in a cold-weather state since 1976, and the policy is designed to respond — regardless of just about any reason — if the football game is cancelled.
Event cancellation, which is the broadest form of business interruption insurance, will cover loss of revenue that a business would have earned from the Super Bowl coming to New York-New Jersey or the loss of estimated expenses incurred if the game is cancelled.
Exclusions in the policy are war and military action, nuclear hazards, biohazards, financial failure, fraudulent acts and lack of audience. The policy would not respond if the game is postponed or if it is cancelled for any reason after kickoff.
DeWitt Stern is the exclusive provider of the coverage, which is underwritten by Houston Casualty Co. It can be purchased up until two weeks before kickoff.