The importance of events insurance
With so-called ‘Freedom Day’ approaching, the events industry – which has been practically brought to a standstill since the pandemic first reared its head in early 2020 – is busy making plans to re-emerge with a vengeance.
As events organisers make up for lost time, Nelson Policies at Lloyd’s looks at the importance of events insurance as the industry reopens following months of stagnation.
Why events insurance is needed
No matter how well an event is planned, the unexpected can be just round the corner, and things don’t always go to plan.
From a delegate falling and breaking their leg, to a piece of expensive equipment getting stolen, or torrential rain calling the whole thing off, anything can happen when hosting an event.
Hence the importance of event insurance, which is specifically designed to protect organisers in the wake of unexpected incidents. Without such insurance, organisers may be liable for potential lawsuits, hefty costs, reputational damage, and even a loss to their business.
No matter what type or size of event they are organising, every event organiser’s planning list should prioritise insurance.
Event cancellation insurance
From severe weather to the no-show of a keynote speaker or a leading performer, events can be cancelled without much warning for a whole host of reasons.
The financial losses that a cancelled event creates can literally cripple a business. Event cancellation insurance is therefore vital, as it will reimburse otherwise irrecoverable expenses and costs due to unforeseen circumstances.
Event insurance with Nelson Policies at Lloyd’s
Nelson Sport & Leisure division offers event insurance. We can arrange single of multi-event policies for a diverse range of events. These events include:
- Charity events
- Festivals or concerts (music)
- Food events
- Fundraising events
- Sport or Leisure
For more information about our single or multi-event policies to cover an impending event such the unforeseeable occur, get in touch with the Nelson Sport & Leisure team today.Back to Blog
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