Charity Event Insurance Protects You Against The Four Main Risk Categories

26th April 2010

With charity event insurance in place, you can get protection and

peace of mind not just for your assets but also for you, your staff,

your trustees and volunteers. There are usually four risk categories,

which all event organisers face: legal, physical, people and event.

Whether the event is a small conference or a music festival, sponsored

by a corporate company or based on the takings at the gate, these type

of risks are always there. The only difference is largely a matter of

scale and exposure and this is where risk management and insurance come

in. Organising charity events can be quite nerve racking at times.  It

is however, the duty of the trustees of a charity to safeguard the

property of a charity from direct loss and damage as well as from third

party liabilities which would otherwise need to be satisfied out of the

property of the charity. 

1. Your charity event insurance cover can play a great role where

events pose a substantial risk to the equipment and property used on

site. From AV equipment to the very fabric of the venue everything

needs to be covered or considered whilst finalising the details of the

insurance. If it is your own property you are taking onsite, you have

to be careful to insure items twice, you may already have insurance for

items normally based at your premises.

2. In some events, there are many hazardous elements involved, like

sponsored bungee jumps, parachute dives or racing of some sort. In all

such circumstances, risk should be measured and undertaken consciously,

and frankly in some cases, it may best to decide not to take the risk.

You can have fun in many other ways without putting people at risk.

3. Charity event insurance policies may also cover the damage rendering

the venue unavailable; breach of contract by the venue, terrorism

damaging the venue or preventing access, outbreaks of infectious

diseases, leading to quarantine or restricted access.

Some other factors may also include adverse weather disrupting air, sea

and rail transport, strikes, outbreaks of civil disorder, revolution or

war, which can have indirect effects such as flight diversions etc.

Then there are also speakers or entertainers who fail to turn up due to illness, delays or other problems.

4. Quotations can be obtained online for small and medium-size

charities from a professional broking service working solely for the

non profit sector.

5. The details should be listed in the contracts for hire. If it is

your responsibility,  then try and establish the real value of the

property at risk and insure the full replacement cost. Also check

whether you are responsible for breakdown risks and the loss of hire

charges under hire agreements.  And if you are using a carrier to move

equipment around, you must be aware of limitations on their liabilities

under conditions of carriage.

Event organisers usually face a number of challenges in all industries,

but they can be particularly worrying for charity events, where one

miss-step could ruin an entire year’s funding and your ability to meet

the needs of those relying on you. Fortunately for you, a well

developed charity event insurance market exists to protect against all

such dangers.