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