Online ticket purchase value and volumes have gone up in recent times that an insurer has come up with a policy to cover financial losses arising out a cancelled ticket.
HDFC ERGO’s ‘ticket cancellation insurance policy’, first-of-its kind, covers a pre-booked ticket in case of cancellation by customer. The event-ticketing partners will take the policy and they will be covered for the financial loss. They can offer the option of buying a refundable or non-refundable ticket to the customer. A refundable ticket will help the customer get his money back in case of cancellation.