Investment Highlights and Value Creation Update
Update on Emerald's Event Cancellation Policy and Coverage
Active Claims Processing Ongoing; Substantial Payments to Date by Insurers
EMERALD
•
Claims Submissions. Emerald continues to pursue full recovery of $347.5 million for event cancellation claims related to the COVID-19 pandemic in 2020 and 2021.
•
The Company has submitted claims related to impacted or cancelled events previously scheduled to take place in 2020 and 2021 of $166.8 million and $180.7
million, respectively
.
Claim Payments to Date.
•
Through March 31, 2022, insurance claim payments received total $213.1 million, of which $89.1 million was received in 2020, $95.3 million was received in
2021 and $28.8 million was received in the first quarter 2022
Emerald's renewed event cancellation insurance policies for the year 2022 do not cover losses due to event cancellations caused by the outbreak of
communicable diseases, including COVID-19. The aggregate limit for the Company's renewed 2022 primary event cancellation insurance policy is $100.0
million
No assurance on final amount of insurance proceeds. While there is no assurance that the insurance carriers will agree that all of Emerald's claims submitted will
be covered under the policy, we believe substantially all claims relating to shows that have been cancelled or postponed due to COVID-19 to date should qualify as
covered losses with respect to Emerald's event cancellation insurance given the similarity of facts and circumstances to the initial approved claims.
16View entire presentation