Nonappearance Loss
Estimate event nonappearance loss using caller-supplied dependency and mitigation.
Description
Event nonappearance loss can model dependent ticket revenue and added expense after mitigation.
Event nonappearance loss can model dependent ticket revenue and added expense after mitigation. A limit caps the resulting payment estimate.1
Estimate event nonappearance loss using caller-supplied dependency and mitigation.
When to use Nonappearance Loss
Use this tool to estimate event nonappearance loss using caller-supplied dependency and mitigation.
Prepare the supplied policy terms, dates, assumptions or recorded indicators requested. Keep monetary amounts on one currency basis and select the applicable thresholds separately.
How to use Nonappearance Loss and understand its results
- Prepare the supplied policy terms, dates, assumptions or recorded indicators requested. Keep monetary amounts on one currency basis and select the applicable thresholds separately.
- Enter ticketRevenueAtRisk, extraExpense, mitigationRevenue, dependencyPercent, policyLimit using the field table and calculation rules, then run the tool.
- Read dependentRevenueLoss, netLoss, claimPayment. The explanation below defines the units, signs, ordering and any flags or placeholder values.
- If the tool reports an input issue, correct the values and run it again. Apply the stated assumptions when interpreting a successfully returned result.
| Input field | Meaning | Value type; see rules below | Requirement |
|---|---|---|---|
| ticketRevenueAtRisk | Ticket revenue at risk | number; minimum: 0 | Required |
| extraExpense | Extra expense | number; minimum: 0 | Required |
| mitigationRevenue | Mitigation revenue | number; minimum: 0 | Required |
| dependencyPercent | Headliner dependency (%) | number; minimum: 0; maximum: 100 | Required |
| policyLimit | Policy limit | number; minimum: 0 | Required |
Enter nonnegative revenue/expense/mitigation/limit and dependency 0–100. Return dependent revenue loss, clipped net loss and capped payment.
dependent=atRiskRevenue×dependency/100; net=max(0,dependent+expense−mitigation) Units, indexing, boundary conditions and exceptional cases are defined in the calculation rules above.
| Output field | Meaning | Value type |
|---|---|---|
| dependentRevenueLoss | Dependent revenue loss | number; minimum: 0 |
| netLoss | Net nonappearance loss | number; minimum: 0 |
| claimPayment | Modeled claim payment | number; minimum: 0 |
{
"input": {
"ticketRevenueAtRisk": 100000,
"extraExpense": 10000,
"mitigationRevenue": 20000,
"dependencyPercent": 80,
"policyLimit": 100000
},
"output": {
"dependentRevenueLoss": 80000,
"netLoss": 70000,
"claimPayment": 70000
}
}Limitations and assumptions
No event dependency, actual loss, deductible, exclusion or claim entitlement is verified.
Numeric inputs must be finite. Follow the calculation-specific rules for overflow, underflow and exceptional cases. Missing required fields, extra fields, wrong value types and violations of the calculation rules are input errors.
Alternative or Complementary methods
Use Wedding Loss: Calculate wedding postponement loss after refunds, deductible, and limit. For a complementary task, use Supplier Dependency Loss: Estimate contingent business-interruption loss from supplier dependency.
References
-
Nonappearance Loss — tool.io
Similar or alternative tools
- Wedding Loss
Calculate wedding postponement loss after refunds, deductible, and limit.
- Supplier Dependency Loss
Estimate contingent business-interruption loss from supplier dependency.