No matter how small or large, the planning stage of any event can take many months and no matter what contingency plans are put in place, things can go wrong when you least expect it.
In order to provide the event organisers with that much-needed peace of mind, and essential key element that should be taken in the planning stages is an adequate investment in specialised Events Insurance.
Public Liability Cover
No matter what the type of event that is planned, it will inevitably be dealing with members of the
public and therefore not only an essential but a compulsory element of any Events Insurance portfolio is the provision of Public Liability Insurance.
The organiser of an event is directly responsible for the general well-being and safety of the attending members of public to the event, whether it is a private one or a general open event. The cost of claims in this field have risen substantially over the years and it is because of this that Public Liability Cover is deemed to be the cornerstone of any Event Insurance product.
Property and Equipment Insurance
If you are operating a business as a professional Event Organiser, it will be necessary to arrange insurance to cover the possibility of damage to structures such as marquees as well as: –
crockery, glasses and cutlery
lighting and heating
Even if all the equipment and structures are hired in for the event by the organiser, it is more than likely that the organiser would be held responsible for any damage howsoever caused to the equipment. Therefore regardless of the position of the Event Organiser, there is a requirement to arrange this type of insurance.
The costs that can be incurred by an Event Organiser should the proposed event be cancelled for whatever reason, can be horrendous. Marquees, seating and cooking facilities as well as food and entertainment are normally pre-booked well in advance. Each facility or supply that may have been contracted-in, will more than likely demand a cancellation fee and that cost will rest with the Event Organiser.
The provision of Cancellation Insurance will help to offset these fee and thus reduce overheads in the event of a cancellation.
Whether a one-off event, an exhibition, firework display or even a wedding reception is being planned by the Events Organiser, it is essential to have in place a comprehensive Events Insurance policy to provide protection for any eventuality.