26th April 2010

There Are Different Types Of Event Insurances That You Can Choose

Your event insurances brokers can access the whole insurance market to find the best cover (which may be from combining a number of separate policies).

Your event insurances brokers can access the whole insurance market

to find the best cover (which may be from combining a number of

separate policies). The phrase risk assessment is becoming more used in

all areas of the event’s industry and for many it creates a sense of

dread. It is however particularly important in many businesses where so

many events are unusual and involve the public. There are of course

several ways you can control your exposure to physical risk claims. You

must either carry out your own or commission risk assessments. They are

vital where dangerous activities are taking place.

1.Event insurances cover usually range from health and safety,

construction and manual handling regulations to the most recent, high

profile law on corporate manslaughter. Other factors include adverse

weather, the failure of key services such as power supplies, water or

drainage, reduced attendance and loss of revenue arising from a common

cause preventing people from getting to the event.

2. It may be more than just legal liability exposure, so always

consider the venue, it will often be the single most expensive piece of

property you are using for your event so check the contract to see what

your responsibilities are for damage to their property. Site security

is also quite important, if you don’t feel comfortable leaving valuable

equipment unattended at a certain location, don’t expect an insurer to

feel differently.You need to be alert for clauses which transfer or

increase your legal responsibilities from other parties, for example

venues making you responsible for anything and everything that happens

on the site a situation which is not always reasonable, particularly if

the cause of an accident is down to the state of the premises or the

ground, these are the areas over which you have absolutely no control.

3. Always treat your event insurances companies as a partner , as they

are there to help so give them all the information they need to

underwrite the risk. Explain the event, discuss what risks concern you

and ask for competitive premiums, but cheapest isn't necessarily best,

because it’s the cover that counts.

4. You also need to ensure back to back indemnities from your sub

contractors to match your responsibilities to your principals. For

those events where you have exhibitors or sponsors check their

insurances, both limits of liability and wordings, making sure they

contain an Indemnity to Principals Clause, which indemnifies you for

their negligence.

5. Your current insurances may need amending or extending, although

when asked to insure these special risks, the average insurer will

quickly be out of its depth, so it is always best to consult a


Event risk insurances policies are all about cancellation, abandonment,

curtailment or other disruption to a planned event. So always, look at

the components of what you are planning and ask - what can go wrong?

Whilst there are many areas to consider and expert advice should be

sought to ensure that you are fully covered.