The sport and entertainment sector has shown over the last year how extremely delicate it is in being dependent on high and, above all, often unpredictable risk factors.
This sector, which has had very high economic importance in our country, must be able to return to the levels of the past.
For this reason, it needs customised insurance tools: the coverage, also known as contingency coverage, protects against specific and atypical risks, allowing a long-term strategic approach, which also allows for new opportunities to be seized.
In recent years, MAG Group has developed a series of insurance coverage types aimed at protecting the investment of those in the world of sport, both directly (e.g. by participating in championships with their own team) and indirectly (by acting as a sponsor).
The investment in terms of image and financial resources that must be made available by the companies from time to time to carry out these communication initiatives has been the determining incentive for the success of these insurance solutions with the companies to which they have been proposed.
Over the years we have offered coverage against Contingency risks for prestigious football clubs, basketball, volleyball, rugby and cycling teams, and many of their Sponsors.
Our clients include large retailers, sports organisers and television networks.
NON-APPEARANCE: Protection against proven net losses where one or more insured shows or events are forcibly cancelled, abandoned, postponed, interrupted or rescheduled due to the non-appearance of key personalities.
LOSS OF REVENUE: Coverage for loss of profit for companies that directly or indirectly link part of their profits to the performance of sports events and competitions (e.g. failure in a tournament, relegation to a lower category, failure to qualify for national and international sports competitions).
CONTRACTUAL BONUS: Coverage for bonuses and/or incentives to be paid to customers, partners/suppliers/etc., if certain sales/revenue targets are reached.
CANCELLATION: Protection against proven net losses in the event that one or more insured performances or events are forcibly cancelled, abandoned, postponed, interrupted or rescheduled due to force majeure.
DEATH, ACCIDENT AND DISGRACE: Coverage for damages arising from the association of the company name and/or a specific product with a testimonial which, for whatever reason, may prove to be damaging to image.
OVER REDEMPTION: Protection aimed at companies against possible economic damage resulting from the success of a commercial promotion aimed at boosting sales that is greater than expected.