11th May 2010
I hardly think that anyone in their right mind would deny the
importance of trade shows and other similar events to any company
today. Entry to such events is usually fairly easy – but the
organizational difficulties of actually taking part in such an event –
those are something else altogether. And many companies and executives
tend to lose sight of how crucially important insurance for events can
be to a trade show or exhibition.
A litigation is hardly a welcome thing to any business even at the best
of times, and having to go through all the fuss and bother of fighting
off a claim, in case of accidental injury at an event, can really be
more bother than it is worth. Not to mention the subsequent losses in
case the suit is loss, in the form of damages, medical expenses that
have to be paid, and the opposition's legal fees. The simple fact is
that many juries really do see big companies as fair game.
Remember, if you don't have insurance for events, when a suit is
brought, you might be dealing with a jury that thinks to themselves
that awarding the suit to the plaintiff will hardly even put a dent in
the company's budget. No matter how mistaken this belief might be, the
behavior resulting from it finds more and more companies paying out
claims based on the flimsiest of foundations.
Being optimistic is hardly a solution, because the wrong thing can
happen, no matter how unlikely it may appear. A stand, or a section of
a stand may fall over and hurt someone. And then, if you happen to have
no insurance for events, you'll find that you have all the worry of
fighting the case – a thing that can turn into a long drawn out and
tedious process. Taking on a lawyer, following the progress of the
case, even attending court sessions. Consider not only the potential
expense if the case goes against you, but also the crucial loss of
time. Can you really afford it?
Whereas if you take on a good insurance company, the company will take
this entire burden off your shoulders. For example, did you know that
an insurance company will fight claims for you? They do, as they will
be the ones to have to pay if you lose. This is what makes insurance
for events a good deal. The insurance people have their own dedicated
and highly experienced lawyers, and they will handle any issue that may
arise, from the litigation to the negotiations with the claimant, to
the actual payment of dues if a case should go against you, and them.
So why not take advantage of this? And it's not just claims that an
insurance company will handle, remember. It will also cover damage to
most of your equipment. Consider the cost of your exhibition stand
itself, and how the entire stand could be lost if there was a fire.
Consider the cost of the spotlights you use to highlight the stand.
Consider the cost of the movie projector and the seating arrangements,
and a dozen other details of equipment that may not be much each in
itself, but which together add up to a considerable sum that you just
cannot afford to lose by not taking out insurance for events.