5th January 2010
If your business is looking to expand into territories where they presently have no presence or maybe your business is new and looking to get their name out there then one of the best ways to that is by hosting or being a part of an exhibition trade fair. This has been a successful way for many businesses to grow and expand into areas that they never imagined before.
A business needs to understand that there are advantages and disadvantages. By being a part of an event such as this you will put yourself in a situation where there will be risks. In order for the event to be considered a success your business will need to acquire insurance just in case of any unforeseen accidents. When planning an exhibition trade fair your business will need to provide details of the event to a firm or agency that specialises in providing that type of insurance coverage.
Once the firm or agency you choose receives your information then they will send an underwriter out to assess all of the risks involved with your show or event. In some cases the underwriter may determine that your business event is uninsurable, if that is not the case then the broker or agent will offer you a policy that they believe best fits your business interests and is acceptable by the insurance company.
There are many different types of events that a business can throw, when a business decides they want to have an exhibition trade fair they may decide to do so in one of the popular following industries:
● Consumer and Industry Products
● Information and Communication Technology
● Consumer Electronics
● Computer Technology
● Furniture Production
● Printing Equipment
● Video Games
These are just some of the more popular industries; your business may not be one of these but remember that whichever type of industry your business decides they are a part of will have a big factor in the price of the premium for the insurance policy that will be issued.
The reason that your type of business is very important as it will determine what needs to be insured. You may be an art institution or some other type of museum with high priced antiques and planning on having an exhibition trade fair. If that is the case your insurance premiums will be higher because you need to insure each item for the price of its value. The type of event that you are planning on having is also important because only items that provide risk need to be insured.