Running a business requires a lot of networking. You might offer various special events to bring the community together. These might be dinners, cocktail parties, concerts and even sporting events.
When a business hosts a special event, it often means a departure from normal operations. The business thus exposes itself to risks outside those which it usually encounters.
For special events, businesses need to consider special insurance coverage. You experience just as much risk at a special event as you do for your standard operations. Your normal commercial liability coverage may not cover you in case of problems at the event.
Special Events Insurance
This type of insurance can cover a variety of risks that may interrupt an event. Cancellation and property protection are just a few elements that might come in a policy. Special events insurance usually also covers injury risks to patrons at your events. This liability coverage can help cover a variety of injuries and hazards.
However, it is important for you to take proper safety precautions when staging an event. That way, you can clearly secure your special events insurance risks. Proper safety precautions keep staff, attendees, the venue and your financial risks safe.
Reducing Bodily Injury Risks
Many venues require businesses to carry some form of event coverage before you book an event. This coverage helps protect the risks of the business’ guests while they are on a venue’s property.
Should an attendee get sick or hurt at the event, the business may have to pay for recovery costs for the victim. The victim might sue for negligent damages because of these injuries.
To best protect your business assets during events, take steps to reduce injury risks:
- Abide by all safety rules established by the venue. When booking a venue, ask for emergency information. This may include the location of emergency exits, occupancy requirements, and emergency materials in the building.
- If you’re using your own property for the venue, keep safety in mind. Remember to check your commercial liability insurance to see how it covers special events held on the property.
- Clearly post notices of areas off limits to the attendees.
- Give attendees instructions on how to use sensitive items.
- Keep potentially dangerous items like electronics and food service materials away from attendees.
- If the venue has any hazards like frayed wiring, broken pavement or leaking pipes, keep attendees away from these areas. Notify management immediately.
- Make sure that attendees don’t overcrowd the venue.
Taking special care of your special event set up will help you reduce bodily injury risks. Proper care will also help protect your special event insurance risks.
If you need special event insurance, we are here for you. Bene-Marc, Inc. can issue you a special events insurance policy that meets your unique needs. Call us at (800) 247-1734 for a fast, free quote.