12th May 2010
Events liability insurance would cover the property and exhibited products in case you are planning to arrange a trade show or an exhibition. It would also cover all the attendees, permanent employees and hired staff. In some cases it would provide coverage even for the event cancellation.
Very often a business owner does not have a right for a single mistake when it comes to throwing shows, parties and trade shows: a lawsuit in case of an accident can ruin the very livelihood of a company. So many small businesses stopped their existence after paying huge compensations for damaged property or injuries to the third party in the course of trade shows and exhibitions.
At the same time, it is not a solution to stop arranging events. They are an inevitable part of a business process that is why it is wiser to get protected with events liability insurance and go on promoting your company, socialising and establishing new contacts during corporate parties, exhibitions and shows. It is really impossible to foresee every chance of an accident occurrence, but at least it is possible to use some preventive methods in order to get protected against these unforeseen circumstances. Moreover, this insurance will give you protection against simulated accidents as well: unfortunately, not everyone is ethical about the source their money come from.
As time passes by, this type of insurance is getting more and more common in the business world, and in some cases it is not an optional thing anymore, but rather obligatory. Events liability insurance is often requested by organisations and councils before they allow arranging an event in their buildings, lawns and grounds. And this is a wise decision as everything can happen due to misbehavior of some guests, malfunction of experimental products at an exhibition, careless attitude of a staff member and so on.
The insurance cost will depend on many factors, including the number of visitors you are planning to have. It is extremely important to understand all the points of a policy you are offered: this way you will manage to avoid some unpleasant surprises afterwards. You should know exactly the amount of coverage you are going to get in case something goes wrong in the course of your event.
It is a nice option to use the services of an insurance broker in case you have any difficulties: this professional will provide any sort of help you need in order to get the best possible events liability insurance policy. Insurance brokers are not attached to any particular company, so they explore the opportunities of many companies and choose the most optimal variants.
It is possible to get this type of insurance for a single event, for several events, or even an annual policy if you have an intention to throw trade shows, parties, exhibitions etc. on a regular basis. It is not a bad decision to get an insurance coverage for all the events during a year as usually companies offer a considerable discount for this option.