Event
Insurance

What if someone trips on that beautiful red carpet at the venue of your event?
What if there is a thunderstorm minutes before your open air event? What if there is chaos minutes after your event ends, thanks to incorrectly placed exit signs? What if a rumored fire at the venue results in a stampede?

Do these questions run through your mind nights before your event? As an event organizer you need to plan for the unexpected. Don’t know what exactly to plan or perhaps don’t have the time? Leave it to us!

What will this insurance
cover?

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:
Fire

Storm, tempest, flood or inundation

Riots, strike or malicious damage

Earthquake (Optional)

Terrorism (Optional)

Public liability

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.

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 NR 5 Crore for any one occurrence. Some venues require as much as INR 50 Crore. Sub-contractors must have a similar limit.

There is an opportunity to lower your premium by carrying out a full risk management exercise.

Check the venue for slipping and tripping hazards as a significant proportion of accident claims involve attendees, visitors, sub-contractors falling over.

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.

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.

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.

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.