Organizing an event involves specific risks that require specific cover through event insurance. During a wedding, a show, a concert, or a company seminar, standard insurance policies do not adequately protect the insured, whether they are private individuals or professionals. Event insurance is a tailor-made policy that covers the risks associated with different types of event.

The Concept of a Special Event

Too many private individuals assume that their home insurance civil liability covers the organization of an event such as a private reception held outside their home. This is sometimes the case, and as this is a grey area when it comes to insurance, it is wise to check with your insurer beforehand. However, as most insurers exclude these risks from their coverage, apply excesses or impose compensation ceilings, it is preferable for private individuals to take out event insurance that is perfectly suited to the event they are organizing. Organizers of professional events should also take out a tailor-made policy.

The Organizer's Civil Liability

When you hire a room or other venue for an event, you become liable for any personal injury, material damage or financial loss that may be caused by the organizing team, participants, or guests. Most companies that hire out venues require a certificate of insurance with cover ranging from one to several million dollars. Organizers must take out insurance covering this amount, or even more if they consider it insufficient in the event of major damage.

The Financial Risks of Cancellation

Depending on the type of event, insurance can also cover the financial risks associated with organizing it. For example, a company convention, a sporting event or an open-air show may have to be cancelled due to adverse weather conditions or a transport strike preventing the public from reaching the venue. The insurance can reimburse the organizer for production costs, payments to service providers, artists' fees and even, in some cases, cover additional expenses incurred in moving the event.

Theft and Breakage of Equipment

During an event, equipment belonging not only to the organizer but also to the venue lessor or third parties may be stolen. Event insurance can include a clause to compensate the owners. 

Artists' Civil Liability

It is not uncommon for insurers to include a clause covering artists' civil liability in their event insurance policies. This is particularly the case for shows involving pyrotechnic effects, which require specific cover in addition to a series of appropriate preventive measures.

Medical Expenses and Repatriation

In the event of an accident occurring during an event, such as a company convention organized abroad, event insurance can cover health costs incurred on site, as well as expenses relating to the repatriation of injured employees or participants. Extended cover can even provide disability and death cover for all participants.

Organizing an event involves a number of hazards and risks, ranging from site hire and the use of expensive equipment to bad weather and public safety. Depending on the risks identified, the organizer needs to negotiate a tailor-made event insurance policy to ensure that he has the coverage he needs.