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Insurance Tips for event organisers

Your risk exposure starts as soon as you sign a contract with the venue to host the event. Consider all of your risks at this time and the contractual liabilities that you are now responsible for.

Responsibilities
Consider all the parties that have a vested interest in the success of the event – the association, any committee that has been formed, the venue and the sub contractors. Ensure that there are sufficient contracts in place so that each party knows exactly what they are responsible for.

Risk analysis
Carry out an initial risk analysis detailing the frequency and severity of hazards that could impact on the success of the event.

Talk to Towergate Coverex to see how many of these risks can be insured against and at what cost.

Cancellation risk
For the cancellation risk it is best to insure this as soon as possible – you do not pay any more if the policy is in place for a longer period of time, in fact it can be more cost effective to buy cover earlier.

Public liability
Ensure that you have adequate public liability insurance. Some venues stipulate the minimum amount of cover that they expect you to have but a limit of £5 million is not unusual.

Risk assessment
Risk assessments should always be carried out – remember – if it is not written down it did not happen!

Risk management plan
A risk management plan can be invaluable in the event of an unexpected incident – this can be as simple as a 4 page document incorporating a communication plan should an incident occur. It is also advisable to have someone trained to talk to the media if the event is sufficiently high profile.

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