BestWeek: Conventions in Limbo as Cancellation Policies Reviewed.

OLDWICK, N.J. -- Hundreds of organizations, scheduled to hold events in hurricane-ravaged New Orleans within the next six to 12 months, are in a difficult bind. Their decision on whether to cancel may hinge on the stipulations of their event-cancellation insurance policy, according to an exclusive article in the Sept. 26 edition of BestWeek.

Many aren't sure whether to scrap their events in the "Big Easy" and find alternative venues, potentially invalidating their event-cancellation insurance, or to stick with their original plans and risk hosting events in a city that may not be fully recovered even after basic services are restored.

"Obviously, people that were meeting between the day the hurricane hit and the end of the year probably won't have a lot of problems with their claims," said attorney John Foster of Atlanta-based Foster, Jensen & Gulley, L.L.C., who specializes in the legal aspects of meetings and conventions, trade shows and association management. "It's the people further out, the unknowns, that may have some difficulty. If they are moving a major convention to another city, they are going to have a hard time finding another city on short notice, meaning a year or less. They can't afford to wait six months."

Other exclusive BestWeek content includes:

--An A.M. Best special report on the surplus lines industry, whose premium growth remained relatively flat in 2004 after growing significantly for three consecutive calendar years.

--An A.M. Best special report on the global reinsurance industry detailing how that market segment is performing and what trends are propelling it.

--The issues that could be decided by three high-profile sets of lawsuits against the insurance industry in Mississippi and Louisiana, seeking to have homeowners insurers cover flood losses from Hurricane Katrina. The suits argue the excluded flood damage should be covered for a number of reasons, but legal and industry experts say the law and the policy contracts are clear and should be upheld.

BestWeek is published by A.M. Best Co. for insurance professionals, including home office executives, agents and brokers.

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A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com.