Why do I need liabilities insurance? Well, every business requires liability insurance and events management is no exception in needing events insurance as there are potential risks involved in any kind of event, from a simple catered meeting to a large-scale live entertainment event. Every person at an event may potentially trip and fall and every piece of equipment used or brought onto site for the event runs the risk of getting damaged. If an unforeseen accident happens at your event, who pays?
As we all become increasingly aware of our legal rights, and with access to legal services become more widely available, more and more individuals and companies will resort to legal action to address any losses incurred either to property or as a result of personal injury. Such cases can be expensive so liability insurance is a practical necessity to anyone looking to hold an entertainment event.
Not only will event insurance cover the required Public Liability which is a requirement from either the local authority or venue (check first as they may have a specific minimum level of cover required) but also damage to property or equipment. This can become particularly essential if you become embroiled in action with a supplier for example and there are disputes over damage for expensive equipment.
Your liabilities insurance should also include Employers liability, which will cover any damages or claims incurred by staff employed for the event. Even if you are not paying anyone for helping out at the event, Employers Liability is a legal requirement as you have a responsibility to anyone working at such an event. Equally, there is also specific liability insurance available to non-profit organisations such as clubs and community groups who operate differently to commercial organisations.
Should you have to cancel or postpone your event, you may incur a number of irretrievable costs and liability insurance can cover you for this if the cancellation or postponement is due to reasons beyond your control (such as extreme weather conditions). This could run into thousands of pounds so good and comprehensive liability and events insurance will ensure your business is not damaged irreparably should you need to pay to cover any unfortunate events.