Are you planning an event? It's important to consider taking out event insurance coverage to protect yourself from liability for unforeseen incidents. While it may not always be a requirement, it's certainly worth the investment. Accidental injury, illness, or death of a member of the public can occur due to tripping over loose wires or a broken window. If an incident occurred and you were held responsible as a result of your negligence, there could be legal action against you.
Public liability insurance will protect you from financial liability, such as compensation claims, giving you peace of mind during the event. The people you hire to work on your event could also file a claim if they suffer an injury and hold you accountable. Whether you have one or more staff members working at your event, employer liability may be a legal requirement. Whether paid or unpaid, this type of coverage applies to full-time, temporary and casual staff, as well as volunteers.
With employer liability insurance, you will be covered by your legal responsibility to pay for damages and expenses related to the claimant's costs that have resulted from an injury. Employer liability can generally be added to most types of insurance (depending on the circumstances of the event). That said, there are usually exclusions that apply to this type of coverage. For example, at Event Insurance Services, our policy doesn't cover injuries related to traffic incidents or injuries to employees of subcontractors or professional contractors (since other companies you hire should have their own insurance policy).
When it comes to events, safety is paramount. To ensure that your attendees are safe and secure, it's important to consider taking out event insurance coverage. This type of insurance will protect you from financial liability in case of an unforeseen incident such as accidental injury or death of a member of the public due to tripping over loose wires or a broken window. Public liability insurance will cover any compensation claims that may arise as a result of your negligence.
In addition to public liability insurance, employer liability is also important if you have one or more staff members working at your event. This type of coverage applies to full-time, temporary and casual staff, as well as volunteers and will cover any damages and expenses related to the claimant's costs that have resulted from an injury. However, there are usually exclusions that apply to this type of coverage so it's important to review the policy documentation sent to you in order to understand what is covered and what is not. It's also important to consider taking out event equipment insurance in order to protect yourself from any damage or theft that may occur during the event. This type of coverage includes stolen equipment (provided that it has not been left unattended or unsafe), equipment that is lost in a fire, and equipment that is accidentally damaged (as long as it is not the result of an incorrect configuration or caused by the use or dismantling of temporary structures).
Cancellation coverage is also important in case something unexpected happens and you need to cancel your event. This type of coverage includes additional expenses to minimize economic losses due to having to reorganize an event or if cancellation is threatened. Many insurance policies will allow you to include cancellation coverage but again it's important to check what can be included in the policy you want to take out. When deciding which type of insurance is right for you, consider how many people are likely to attend the event (the more people attend, the more likely an incident is to occur), what type of event it is (some events may carry more risks than others), what level of coverage do you need (you may want to include additional coverage such as cancellation coverage), and how long the event will last (insuring an event that lasts several days will cost more than an individual event).If you're planning more than one event, insurance for multiple events will be a more cost-effective way to guarantee all of the events (instead of covering each one separately). If you want to take out insurance for events but are not sure what is best for your needs, contact our friendly team who will be happy to advise you. At the end of the day, it's up to you as the event organizer whether or not contract a policy.
Some customers, partners, venues, or even local authorities may require you have at least liability insurance but otherwise it's your choice. That said any event comes with risks but with right insurance policy they can be mitigated.
