Small Business Insurance
Small Business Insurance : Special Events Insurance
Special events is quite a broad term, and is used to refer to any sort of public gathering that is used to effectively publicize or promote any part of your business or any product of your business in any way.
Special events are normally thought of as big corporate do’s, and whilst they can they, thats not normally the case for a small business owner.
They are more likely to be smaller events where the emphasis is on building relationships with customers and or other sections of a local community.
Sometimes these events will be fund raising, other times promotional, and other times, maybe more of a corporate jolly.
The insurance aspect is crucial, whether you self insure or take out an insurance policy, because you will have a degree of risk associated with it that needs managing.
Special events Insurance : Risk management
Some of the risks associated with a special event will be obvious, some not, nut here are some pointers.
Most events will cost you money, and may involve some sort of corporate sponsorship.
Events can be cancelled because of thins outside your control, sometimes called ‘Acts of God’ in an insurance sense.
If the sums are large enough , you might want to consider an insurance policy against cancellation or postponement for any reason.
Possible injury risks area major area of risk to consider.
Many events will involve some sort of activity ie firework display, fire walking ! etc which contain a real element of risk of injury to participant and possibly employee as well.
Make sure you cover all legal responsibilities, and see if your other insurance policies cover you.
If not the some sort of public/employee liability insurance may well be necessary.
If you are organizing an event where members of the public (including people from other companies) will be present, there are a few basic rules of self insurance and /or risk management you might want to consider.
If alcohol is being served, if any form of gambling is being done, odds are you will need a permit /license of some sort. Failure to get one could be very costly.
Also remember you could be held liable for people behavior when drunk, in certain circumstances, so worth bearing in mind.
Also if children are likely to be present, that creates other areas of risk that need to be managed, especially the fact that they often get lost.
Serving food is also likely to leave you open to liability if anyone gets sick fro it etc. All these are foreseeable areas of risk an can be managed or insured against.
Think in terms of health and safety. If people are present in significant numbers, think in terms of crowd control.
Think in terms of signage of areas of the event, especially fire exits.
Think in terms of training employees and /or volunteers especially for the event.
The post small business insurance : special events insurance appeared first on Small Business Insurance.