When you look back over the past 10 years, a lot has changed in Event Risk Insurance – from the types of events that are run, to the technology that exists to manage them.
In a decade we have seen the likes of Facebook Events and Eventbrite making event management and ticketing far more accessible to consumers and organisers; we have also seen events edging into riskier territory with events like Tough Mudder allowing anyone to sign up a team to tackle extreme physical feats.
As the landscape of events management has evolved, so too have the risks. Insurers are becoming more cautious where participation exposures exist, as the risks of injury become far higher.
So, how can we put insurers’ minds at ease?
- Have a Risk Management and Safety Plan.
This is more commonly becoming a requirement of both councils and insurers. A solid Risk Management and Safety Plan shows insurers that you have a thorough understanding of your event, what to do in an emergency, and the safety precautions in place for the public.
- Your Experience Counts for Something
Insurers value experience and factor this in when assessing whether or not to provide cover for an event. Showing you have a thorough understanding of the procedures and risk factors involved in running a successful event will go a long way with an insurance company.
- Where you Outsource Services, Don’t cut Corners!
Ensuring you have qualified (and insured) professionals managing higher risk activities, such as stage set-up, rigging, food and alcohol service, etc. could mean all the difference in the safety and enjoyment of attendees to your event. Also ensuring you and your suppliers have a back-up plan for each element is critical to the success of an event.
- Have Solid Contractor Controls
Typical Event Liability policies will not insure sub-contractors engaged by you. Having solid controls around sub-contractors, including obtaining copies of their Certificates of Currency, show the insurer that you are risk-aware. If a sub-contractor causes an injury to an attendee, you would also want the peace of mind that they have insurance covering their business risk.
- Be Aware, but not Afraid of Technology
Improvements in technologies targeted at the Entertainment Industry has significantly increased efficiency and sustainability of events. It is also important to be aware of the risks, as the technology that you use is subject to the Australian Privacy Principals and Mandatory Data Breach Notification requirements.
McKenzie Ross arranges Liability and Cancellation insurances for events Worldwide. If you are considering running an event, or have any questions regarding Event Liability and Cancellation insurances, please contact McKenzie Ross on (03) 9691 2222.