Examples of event insurance cover

• Cancellation/Abandonment: to cover total budget (expenses plus revenue) of £35,000
• Public Liability: up to a limit of £2,000,000
• Employers Liability: up to a limit of £10,000,000
• Property: up to a limit of £50,000

Scenario 1

The night before the exhibition open, disaster strikes. There is a storm and the venue is struck by lightning. The roof collapses and damages the shell stands, which have been erected in the exhibition hall.

Damage to your property amounts to £40,000, which is insured as above and you are compensated.

The exhibition hall is unusable and the event is cancelled. A claim to the value of £35,000 can be made for the total cancellation of the event. Alternatively, assistance will be provided in helping find and fund a replacement venue in order for the event to still take place. It may take time for arrangements to be made, reducing or restricting the open period and effecting revenue. This would mean there would be a partial loss (possibly £20,000). A claim could be made for the additional hire costs, plus advertising/notification costs and reduced revenue of the rescheduled event, as these costs were incurred in avoiding a larger loss.

Scenario 2

Your event opens and an attendee has a stand light fall on their head and in turn damages the venue wall. The injured person is taken to hospital suffering from concussion. The attendee believes, you, the organiser of the event, are accountable and makes a Public Liability claim against you for £10,000. Your insurance cover would respond and your court expenses and any amount awarded (up to the level of indemnity) would be paid. Also the damage to the venue would also be covered under the same Public Liability section of your policy.

Scenario 3

Your employee suffers a back injury when she trips and falls during your event. She believes that you have not taken adequate steps to avoid such accidents and alleges your negligence was the major contributing factor to her injuries. She engages a solicitor, who puts a claim for £10,000 on your company. Your Employers Liability insurance would react paying for legal defence, court expenses and the award given. Protection is available for all wide range of events from exhibitions and conferences to fetes and firework displays. Event insurance can be expensive, however the decision not to purchase it can prove to be a costly one.

Thanks to Terry Waller CERT CII, Managing Director, Arc International web: Apex Insurance Services Ltd, email: twaller@arc-int.co.uk