Events 101- Insurance

Presentation for Events Industry Assocation

By

Neil WatsonSeptember 2016

Dream come true… or nightmare in the making?

Consider

• What insurance do we need?

• Who is responsible for what

• Contractors

• Volunteers

• How do I know that the insurance cover is correct

• Are there any other insurance policies I should consider

What Insurance do I need?

Property Owner/Principal• Property Damage/ISR

• Public Liability

• Does it extend to cover events

• What about contractors

• Watch out for “Worker to Worker” deductible

• Workers Compensation – contractors

• Management Liability/Association Liability

What Insurance do I need?

Event ManagerWhat are your requirements under contract?

• Public Liability

• Contractors – who is engaging them

• Statutory Liability – is it covered?

• Professional Indemnity – do I need it?

• Workers Compensation

• Volunteers Personal Accident

• General Property

• Money

What about Contractors and Volunteers?

Contractors• Who is engaging Contractors and what are the terms of engagement?

Do the Contractors have their own insurance?• Public Liability

• Limit of Liability• Principals Indemnity

• Professional Indemnity• Workers Compensation

• Principals Indemnity• Working Directors/family members• Contractors

Volunteers• Same Duty of Care as for employees

I have Certificates of Currency…

Public Liability Insurance• Who is insured?• What is the expiry date?• What is the Limit of Liability? • Does the Insured Business match the work

being done? • Who is the Insurer?• Principals Indemnity/Cross Liability/Waiver

of Subrogation

I have Certificates of Currency…

Workers Compensation Insurance• Who is Insured?• What is their corporate structure?

• Sole Trader• Partnership• Private Company• Public Company

• Expiry Date• Are they using subcontractors?• Principals Indemnity and Waiver of subrogation

Other Event Insurance policies

Event Cancellation• Financial Loss resulting from an event being cancelled,

postponed, abandoned or curtailed due to an insured peril outside the control of the event organizer

• Adverse weather – as defined• Damage to venue during the period of insurance which

renders it unsuitable to stage the event• Transport strikes• Terrorism or threat thereof• Natural disasters• Travel delay of essential event equipment• Non-appearance of key persons or performers due to

death, accident, illness or travel delay

Other Event Insurance policies

Hole in One/Prize Indemnity• Covers the value of a prize offered for a Hole in One or

promotional “game” • Subject to strict conditions • Valuable prize offered at low cost/risk

• GWS• Pepsi

Recap…

• What insurance do we need?

• Who is responsible for what?

• Contractors

• Volunteers

• How do I know that the insurance cover is correct

• Are there any other insurance policies I should consider

Have a Fantastic Event

Thank You!

Questions ?