Blog
6 Things to Look for in an Insurance Provider
A recent survey by Insurance Business America uncovered the top six attributes clients look for in an insurance provider. Continue reading to learn about the survey results and how Spectrum excels in all six items that insureds value most. 1. Customer Service One of the greatest compliments we often hear form our clients is that we provide excellent customer service. When Spectrum began operations more than ten years ago, one of our primary goals was to provide the best customer [...]
Feeling Hot Hot Hot: A Record-Breaking December
If you haven’t already heard, December 2021 was the hottest December in U.S. recorded history. The contiguous U.S. temperature for the month was 39.3 degrees Fahrenheit , 6.7 degrees above average and exceeding the previous warmest December in 2015. While you’re probably unfazed by this news, since it seems like we break a new climate record every month, the fact remains that the planet is warming. And it’s causing changes in weather patterns around the globe. For 2021 as [...]
Weather Insurance for Golf Tournaments – Traditional Rain Insurance Doesn’t Make the Cut
Like many events that take place outdoors, inclement weather can ruin and even cancel a golf tournament. However, golf tournaments have their own set of weather issues regarding the type and timing of weather events. To address these issues, there are a variety of customizable insurance policies available to those planning golf tournaments: Event Cancellation Insurance Adverse weather may merely make tournament play less enjoyable, or it can interrupt play for a matter of hours, a full day, or [...]
Spectrum Weather Insurance Turns 10!
We can’t believe it’s been a whole decade since we thought, “There has to be a better way to obtain rain insurance,” and then decided we could be the better way. We started out by listening to people in the events industry to understand their pain points with existing weather insurance. We heard their frustrations with the expensive, one-size-fits-all coverage available and worked with multiple carriers to provide more options at a competitive price. Over the past 10 years, [...]
The Dangers of Using Gridded Rainfall Data for a Rain Insurance Policy
When purchasing a rain insurance policy, the ultimate goal is to have that policy pay a claim when rainfall meets or exceeds your insured amount. Most carriers allow for three options to determine the rainfall: an on-site observer, the nearest National Weather Service location (typically an airport), or a third party that will determine rainfall using multiple data sources, most notably, Doppler radar data. However, there is a recent addition: gridded rainfall data produced by the federal government. Insurance [...]
An Uneventful Summer
The summer of 2020 has all but come and gone, and it has looked nothing like what anyone imagined. From graduations and weddings to fairs and concerts, widespread event cancellations across the globe have made for a very uneventful summer. For the general public, this has meant a boring summer, canceled traditions and disappointed fans. But for those in the events industry, it has been a devastating blow with months of hard work out the window, revenues lost and an [...]
How the Fair Industry Is Faring Through COVID-19
There’s no doubt the fair industry is suffering during the coronavirus pandemic, as social distancing requirements are causing event organizers around the world to cancel events through the summer and even into the fall. But the fair industry is resilient and many fair organizers have responded to forced cancellations with creative solutions to provide fans—and vendors—with alternative fair experiences. Below, we’ve compiled just a few of the outside-the-box ideas some fairs have come up with. The Ingham County Fairgrounds in [...]
6 Tips for Hosting a Virtual Event
In the midst of the coronavirus pandemic, few industries are feeling the effects of social distancing as strongly as the events industry. These tough times are forcing organizers to get creative in how their events are hosted and some are turning to virtual events. The following six tips will help you make the most of your event, even when it can’t be held in person. 1. Consider what your event can bring to the web First, evaluate if and how [...]
Does Event Cancellation Insurance Cover Pandemics?
It has been a busy, chaotic few weeks for us, the event industry and the world, as we all navigate the new reality of life and business during a pandemic. With thousands of event cancellations—some initially as a precaution, followed by others as required by local ordinances—we’ve had a lot of clients reaching out to see if cancellations related to coronavirus are covered under their event cancellation policies. Fortunately for some, the answer is yes…if their policy was purchased prior [...]
What Do Snow Removal Companies Do When There’s No Snow to Remove?
This winter, the Northern Hemisphere has been experiencing a warmer weather pattern and, combined with global warming, that’s resulted in less snow. Despite the winter storm that blew through the Midwest and Northeast this week, snowfall totals are still well below average. In fact, some areas—like New York City—are on pace to finish the winter with their lowest snowfall totals on record. While that may be good news for those who dread winter weather, it’s bad news for a lot [...]
3 Ways to Take Your 2023 Event Up a Notch
No matter how much you try to plan ahead and delegate, organizing an event is a huge undertaking. But with a lot of preparation and a little luck, your event will be the best yet! Follow the three tips below to help make your event a huge success. Socialize Social media is a cost-effective way to promote your event to the masses. It’s also a great way to reach your target audience where they already are and interact with [...]
Does Customer Service Still Matter?
How to Please Customers in the Digital Age In the Digital Age, when many people prefer to do business online, does customer service really matter anymore? We’re here to tell you that not only is customer service still important, but it may be the most important aspect of your business. We understand that some people want a seamless, human-free experience, which is why we offer instant online quotes and even allow customers to purchase their rain insurance coverage online. BUT [...]
Why You Should Consider Snowfall Insurance for Your Indoor Events
You may think that an indoor event is exempt from any negative effects of the weather…and you would be wrong. Remember when snow and ice in Dallas canceled hundreds of flights, turned roads into ice rinks and prevented some ticket holders from making it to Super Bowl XLV in 2011? Due to the inherent danger of winter storms, indoor events are not immune to their effects. Just like rain, a significant snowfall can hamper an indoor event by hindering people’s [...]
Keep Your Cool With Heat Index Insurance
Climate change is contributing to more extreme weather events, including extreme heat. While it may look like a pleasant day, extreme heat is extremely dangerous. According to the National Center for Environmental Health, extreme heat causes more than 600 deaths per year, more than hurricanes, flooding, lightning and tornadoes combined. To help protect organizers from reduced attendance due to stifling heat and humidity—or in worst-case scenarios, to allow them to cancel outdoor events rather than putting attendees and vendors [...]
Event Cancellation Insurance: Why Buying Early Is Important
One of the most important features of an event cancellation policy is that it begins as soon as the policy is bound. While you may purchase coverage as late as 10 days before your event, we recommend getting coverage at least 90 days prior to an outdoor event. If you’re really on top of it, you can purchase coverage up to one year in advance. Telling a client their event cancellation isn’t covered because they sought coverage too late is [...]
