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Cover Genius makes event and ticketing refund protection acquisition

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Cover Genius has expanded further into the $US72 billion ($103 billion) event and ticketing industry, which it says is a "huge addressable market,” buying UK insurtech Booking Protect.

Founded in Leeds in 2014, Booking Protect offers refund protection alongside the sale of event tickets, including via OzTix in Australia.

Cover Genius will embed the protection in its XCover platform worldwide, enabling venues, ticketing platforms, event organisers and ticket sellers to offer it to their customers.

“It’s a natural fit for us to team up with established leaders in specialty fields like ticketing who have built a great service and end-to-end solution,” Cover Genius CEO Angus McDonald said.

Booking Protect offers comprehensive refund protection for all elements of the booking including tickets, travel, accommodation. All fees are offered alongside the existing booking process, with no administration or cost on the retailer’s part.

Co-founded by Mr McDonald and CIO Chris Bayley in Sydney, Cover Genius is now licensed in more than 60 countries. XCover is available at Amazon, eBay, Wayfair, Descartes, ShipRush and other global retailers.