Ticketbud Announces Integration with Event Protect, the Industry Standard Protection for Event Cancellation
Posted in Spotlights on March 19, 2019
Ticketbud event organizers can now opt-in for comprehensive ticket revenue protection with Event Protect. This is a game changer for organizers, minimizing financial risk in case of unforeseen cancellation. The full value of a ticket transaction is covered by a low fee, built into ticket prices. This real-time coverage is based on the exact number of tickets sold, meaning you only pay for the coverage needed. This offers a more cost effective method of coverage for organizers, compared to the more expensive event insurance options.
Protect your investment
Everyone wants to see their event be a great success, however responsible organizers realize the need to protect their investment. Events often include significant sunk costs, with set-up and fit-out expenses, as well as prepaid venues, talent and suppliers. Event Protect reduces the risk of financial loss if the event has to be canceled, disrupted or rescheduled due to circumstances out of your control.
Displaying the Event Protect logo on your event page increases consumer confidence. It assures customers that direct refunds will be provided quickly and transparently in the case of unforeseen cancellation.
“With events, there are always factors out of your control. We’ve seen it all, sudden heavy rains flooding fairgrounds, squirrels chewing through electrical wires, major suppliers falling through or high winds blowing over tents and making venues unsafe.
With Event Protect and Ticketbud, attendees get fast refunds and organizers are protected financially. Ticketbud is the largest ticketing platform in the US to rollout this service. After successfully piloting with key clients, Event Protect will soon be available to all organizers”. Kayhan Ahmadi, CEO of Ticketbud.
- Protect ticket revenue and brand reputation
- One of the broadest event cancellation policies on the market
- Free for organizers, with a small fee built into ticket prices
- Based on exact number of tickets sold - only pay for the coverage needed
- Increased consumer confidence
- No lengthy forms or risk assessments required
- Easy claim process authorizing direct refunds to ticket holders
Austin's Largest Holiday Lights Festival:
“We produce a large outdoor holiday festival that is at the mercy of the elements, which is why we were thrilled to add Event Protect to our ticketed offerings in 2018. When city officials had to close the park one evening due to high winds, ticket purchasers were protected.” Teri Smart, VP of Marketing, Forefront Networks.
How does it work?
Ticketbud connects to the Event Protect Platform via API enabling all transactions to be underwritten in real-time by their panel of A-rated insurers. This allows the full value of the transaction to be insured, including processing fees or any extras if booked as part of a package. If an event is canceled, ticket holders complete a simple Event Protect form authorizing direct refund to them, leaving organizers with no additional costs. This peace of mind is another reason event organizers choose Ticketbud.
Full comprehensive coverage for all types of events. Examples for cancellation include, but are not limited to:
- Adverse Weather - such as flooding, strong dangerous winds
- Transport delays
- Key supplier failure
- Major incidents deemed a health and safety risk
- Mechanical failure or breakdown of key equipment
- Malicious damage - burglary
- National disasters, state of emergency
- Unknown works at venue rendering facilities unusable
- Cancellation or revocation of license, or closure of event for health and safety by local authority
- Cyber attack on venue causing abandonment or cancellation
Find out more about Event Protect