Thu 17 May 2018 00:00:00 UTC
Every event, gathering, meet or conference involves a lot of planning, rushing around and a slight amount of chaos, no matter how well planned the event may be. All your elaborate preparations and effort could be ruined if some unforeseen risk happens. It is not possible to anticipate the things that could cause a problem, and many times it is even harder to find and prevent it in time, in the thick of things.
Event management insurance policy is made to protect your event from unforeseen damage, and this provides a measure of security and peace of mind that in certain worst case scenarios, you are protected.
Almost any type of event is covered under an event management insurance policy. This policy can be taken by the person organising the event, or the proprietor. Event management insurance is a specialised, package policy, and can be customised to your requirements.
The insurance coverage is highly customised to suit specific requirements. The basic coverage includes the following:
Event Cancellation: Protection from losses due to Cancellation of any event. Event management insurance also covers the additional costs or charges incurred by you to avoid or diminish a loss payable under the policy. This section provides indemnity to you for your Ascertained Net Loss should any Insured Event(s) be necessarily Cancelled due to
Public Liability: Provides cover for third party liabilities (bodily injury / property damage) arising during the Event by an Accident in the Premises where it is held.
Cash in Transit and Safe: Event managers insurance protects any cash in transit carried by event manager or employees, from theft, robbery, etc. Cash in a safe is also covered, and must be declared.
The insurer assumes that you have all the required permissions from the local authorities / government approvals etc. in place before the start of the event. It is further warranted Alternate, appropriate and necessary arrangement is made to the venue so as to continue the event during seasonal climatic changes.
The policy does not cover any damage arising from the following:
If you are an event management company, or a firm planning to host a large gathering, it is best to ensure you have adequate financial protection. Contact us below to learn more about event management insurance.