OREANDA-NEWS. May 4, 2010. Ingosstrakh insured the risk of cancellation of the legendary Metallica band concerts held on April 24 and 25, 2010 in Olimpiysky Sports Complex in Moscow, and the liability of the organizers of the concerts to the visitors for the total insured amount of USD 10 mln.

Under the insurance contract for the risk of cancellation of the concerts the following losses of the organizer which it may suffer in case of cancellation of the event for reasons beyond its control are insured: impossibility to use the concert stage due to its damage (e.g. as a result of fire), illness of the band’s leading singer or any accident as a result of which the band would not be able to give the concerts, act of terrorism or national mourning, etc. In such a case Ingosstrakh will compensate the expenses for the concert hall rent, advertizing, tickets print and sale, etc.

The insurance contract for organizers’ liability provides compensation to third parties including spectators if their life, health or property is harmed.

Ingosstrakh has a wide experience in such type of insurance: earlier the company insured the concerts of such world celebrities as Elton John, Britney Spears, Simply Red, Scorpions, Depeche Mode, etc.