What will this insurance cover?
Whatever you are organizing, whether a business conference, a wedding, a major music festival or a local fete, you cannot ignore your responsibility towards public. We help you cover risks that you are legally liable for.
A visitor to your business conference trips and breaks his/her arm.•
Part of a lighting rig collapses and injures spectators.•
One of the players in your charity football match is injured, ends up not being able to work and sues you for the loss of income.•
Delegates accidentally set fire to the hotel you have hired for a conference.•
A spectator slips on the steps of your temporary grandstand, falls and suffers concussion and memory loss.
Event cancellation, abandonment, curtailment or postponement
In case of cancellation, abandonment, curtailment, postponement of your insured event, the insurance can help you cover your irrecoverable expenses, albeit only up to the sum insured limit. This includes cancellation, abandonment, curtailment or postponement due to:
Non-appearance of artists(due to fire and allied perils)•
Fire and allied perils•
In addition to this, all expenses incurred by you in order to avoid the cancellation, abandonment shall also fall under the purview of this policy.
Fire & allied perils
The insurance will cover (only up to the sum insured limit) all physical damage to your property used at the event due to:
Storm, tempest, flood or inundation•
Riots, strike or malicious damage•
Top ten DO’s for event organizers
Insure early – as soon as you are committed to the venue. This is to ensure maximum cover and best rates. Insurers can’t cover incidents that have already happened.•
Ensure the site of the event is secure and all attendees, visitors, and sub-contractors are readily identifiable.•
Make sure you have adequate public liability insurance. Usually venues expect a public liability limit of indemnity of a minimum of INR 5 Crore for any one occurrence. Some venues require as much as INR 50 Crore. Sub-contractors must have a similar limit•
There is anopportunity to lower your premium by carrying out a full risk management exercise.•
Identify the susceptibility of your attendees to be affected by disrupted transport. If this is likely, insurance may be needed to protect against any enforced reduced attendance at your event. For example, if most of your guests are flying in from overseas, your event could be severely affected by an airport strike.•
Check the venue for slipping and tripping hazards as a significant proportion of accident claims involve attendees, visitors, sub-contractors falling over.•
It is paramount that you negotiate and check your venue contract closely. Make sure you understand it as the terms can be beyond your normal legal obligations. Your venue authorities will rarely provide you with the insurance cover you need.•
Consult your legal department or lawyers when you issue your contract and terms & conditions, and also when you sign your venue contract. Make sure you take out adequate insurance with a proven and acceptable event insurer.•
Ensure your exhibitors, delegates and sub-contractors receive your terms and conditions so they are aware of their responsibilities. Failure to do so could result in a legal action against you, e.g, an exhibitor who suffers damage to his exhibits.•
Obtain the best cover you can afford, and plan to improve the insurance budget for the next event. By planning ahead you can make sure you have enough money in the budget to get the best cover available to you.