Great American Insurance Company is launching a new Ticket Protection Program under the Inland Marine line, with rates proposed to take effect starting July 12, 2025. The program reimburses customers for the cost of event tickets if they’re unable to attend due to a covered reason, including illness, weather, travel disruptions, or work obligations.
This is a new standalone program with no impact on existing policies. Rates are modeled after Technology Insurance Company’s Event Protection Insurance and include a base cancellation rate of $7.37 or 7.37% per ticket, with a $2.99–$3.99 minimum premium. Final premiums combine base rates with rating factors like event type, length, purchase timing, and coverage type. GAIC applied a loss cost multiplier of 1.735 to TIC’s loss costs.
The filing was submitted by Perr&Knight, with consulting actuary Danny Baxter providing the actuarial opinion.
A similar filing was submitted in Oregon.
