Monday, 16 October 2017 00:00

Is Your Special Event Covered

Hosting events such as concerts, festivals, conferences, trade shows, sporting events, and celebrations subjects a business to a variety of liabilities and business risks that must be considered to avoid costly litigation or other losses when something goes amiss. Appropriate coverages for events include property insurance, special event general liability insurance, employer’s liability insurance and cancellation insurance.

PROPERTY INSURANCE

A property insurance policy protects equipment at events—ranging from sophisticated audio-visual systems to folding chairs—whether it is owned, borrowed or hired for the event. The policy generally covers property while in transit to and from the event as well as during the event. Damaged, destroyed or lost property is reinstated on a “new-for-old” basis, meaning that it is generally not appropriate for things like antiques, collectibles or other irreplaceable property.

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