During June and July this year 188.7mm of rain fell leading to the cancellation of a number of high-profile events, including the Royal International Air Tattoo at Fairford and the Natwest 20Twenty match at Durham, which is estimated to have lead to more than £10 million in lost revenue.
Chris Rackliffe, contingency underwriter at Beazley, said: “Last year was execptional, but this year has seen more than its fair share of bad weather. This double whammy for event organisers has meant the market is seeing an increasing number of enquiries for cancellation cover”.
In 2008, however, the weather has improved slightly on the same period last year, which saw an unprecedented 270mm in June and July.
