The National Basketball Association was supposed to kick off its 2011-2012 season last night.  Today however, instead of talking about the furious comebacks and spectacular plays of last night’s action, we are talking about revenue splits and the next scheduled negotiating session.

In fact ALL games in November have already been cancelled, so the earliest the league could return is December 1st.  However, unless the stalemate is broken soon it is likely that date will also be pushed back and that many more games will be cancelled.

As we’ve mentioned, Event Cancellation Insurance can cover labor disputes and strikes, so the NBA teams could have protected their game revenue with a policy from BUA.

Ultimately, the speed with which the two sides reach a settlement may come down to which side – the players or the owners – feels more of a financial strain more quickly.   Most observers feel the owners’ deeper pockets will be able to outlast the players, whose solidarity may waiver when they begin missing paychecks.  If that happens, the players may “lose” but at least the games will get back on the court.  Until then, more and more sports fans will be asking one another “Did you see the hockey game last night?”

Get your lighters ready – or a least the lighter app on your smart phone!  Classic rock acts are out on tour this fall.  Sixty-six year old Bob Seger is currently on a US tour playing his own brand of ‘Old Time Rock and Roll’ for adoring fans.  John Mellancamp just turned 60 and is also touring.  There is even talk that none other than the Rolling Stones may tour in 2012.  Presumably, their lineup would include Mick Jagger (68), Keith Richards (67), Ron Wood (64) and Charlie Watts (70). These performers are not only advancing in age, but many of them have, shall we say, ‘lived’ a little bit over the years.

As our musical icons age, the chances that the aches, pains and illnesses that catch up to all of us may also impact these rockers’ ability to play every show on their respective schedules.

BUA’s NoShow™ Non-Appearance Insurance protects concert producers and concert venues against the financial fall-out of cancelling or postponing a show because the performer is not able to appear.

The non-appearance of the performer is the most common reason for a show to be cancelled. As those performers continue to advance in age, it makes more and more sense to consider NoShow™ Non-Appearance Insurance, particularly if those performers live… well, like rock stars.

The National Basketball Association is in the middle of what could be a protracted labor dispute.  While this is certainly not causing the same angst among the general population of sports fans that the NFL lockout did earlier this year, the leagues does stand to lose a substantial portion of their season even if an agreement is reached soon.

There is precedent for extended work stoppages in major American professional sports.  Most notably, the National Hockey League cancelled its entire 2004-2005 season due to a labor dispute.  Major League Baseball memorably cancelled the 1994 World Series when the owners and players could not come to an agreement.  The NBA lost almost half a season in 1998.  In this case, fifty (of a normal eighty-two) regular season games were played and the playoffs were not affected.

There is little solid evidence on how much permanent damage such cancellations do to the long-term popularity of the sport.  It is clear that both baseball and hockey took years to recover their previous fan support. The NBA fared better because it did not lose its playoffs and did crown a champion.

The league’s 30 teams and the businesses that depend on those teams could have protected themselves with Event Cancellation Insurance. Coverage for labor disputes and strikes can be included. If your event faces potential financial exposure from a work stoppage, contact BUA to see how Event Cancellation may cover you.

The Atlantic Hurricane corridor has been reasonably quiet since Hurricane Irene roared up the East Coast in late August.  Since the middle of September however, there has been a different type of storm brewing. The Occupy Wall Street protests began in New York and have spawned similar splinter groups in other cities around the country.  

To this point, the movement’s methods have been largely peaceful and its message has been rather muddled and disjointed.  The situation does bear monitoring nonetheless.  The protests may indeed fall victim to their own lack of direction and fade away. 

In another scenario, it is possible that the movement is fed by the media and the 24/7 news cycle and continues to gain momentum and support.  If this happens, the protests may begin to disrupt business and events not only in New York, but in other cities where they have taken hold.

It is important to note that standard Event Cancellation Insurance policies exclude coverage for Civil Unrest.  BUA, however, does include Civil Unrest coverage.  So if protesters in the streets have the potential to disrupt your event, contact BUA for an Event Cancellation Insurance quote.