I think it's fair to say that the organising company was not to blame for the cancellation.... and we've agreed that the costs on them would be pretty massive if they had to refund (I assume that most of these are fairly small companies, often run by fairly ordinary runners... but that isn't particularly relevant).
It's also not fair to pass all the risk onto the runners... so the obvious thing to do, if people insist on not accepting a "no refunds in case of cancellation" clause, would be to take out insurance against this possibility - just like many outdoor events do.
At a guess, I'd say that insurance premiums wouldn't be much, but would probably add maybe 5% to the entry fees.
Personally, I'd rather not have the insurance added to entry fees... but I doubt it could realistically be an 'optional' insurance. Probably just one big policy taken out by the organisers, to allow them to make a blanket refund.
I'd rather take the small risk. But it would be up to the running public to decide on that.
Edited: 04/03/2013 at 23:05