THE SUFFOLK Agricultural Association (SAA) has estimated that the cancellation of the second day of the Suffolk Show will cost between £300,000 and £500,000.
The SAA has announced that it has increased financial cover for the event five-fold to cover losses.
The show typically costs £1.4m to organise and this amount is usually underwritten by approximately £100,000.
Following the cancellation of the second day of the show this cost has been increased to £500,000.
Organisers said that the dramatic increase was a result of the difficulties insuring events of this nature.
The cancellation followed concerns about public safety after the forecast of force nine winds in the area.
Ticket-holders for the second day of the show can apply for refunds in the following ways.
Those who purchased their tickets from Tesco, Post Office, Sainsburys or Tourist Information branches should return their tickets with proof of purchase to the branch they purchased them from before 5pm on June 15.
E-tickets, purchased online, will be refunded automatically, however those who purchased tickets by telephone or in person from the SAA office need to complete a form available on the Suffolk Show website: http://www.suffolkshow.co.uk/
A meeting is expected to take place early this week to discuss compensation for exhibitors, livestock holders and trade stands.