Extreme and unpredictable weather – including storms, wildfires, floods and extreme heat – is on the rise due to climate change, and outdoor events and festivals have been hit hard by associated disruptions and costs. Insurance premiums and deductibles have necessarily increased as severe weather claims account for a larger proportion of cancellation claims. Contingency insurers will need to continue to utilise technology, including climate-modelling tools and AI – rather than relying on historical weather patterns which may no longer be reliable – to assess and manage risk. We are likely to see a rise in hybrid policies whereby traditional event cancellation cover is combined with automatic, parametric insurance to compensate risks such as low attendance due to wind, temperature or rainfall.