Event Liability and Cancellation
At KEU, we have a clear understanding that every event is unique, and special to you. Our event insurance policies have been developed with the benefit of long term experience as underwriting managers focused on your industry.
As an event organiser, you have probably identified the need for insurance cover for your event, because no matter the size of your event or how well prepared you are, you never know when the worst-case scenario could become your reality.
KEU's Events insurance is easy to understand and encompasses two main areas of event insurance: event liability and event cancellation. Both products offer general cover with the option of extending the cover to meet specific needs.
Download: Once-off event liability proposal form
The Safety at Sports and Recreational Events Act was promulgated in 2010. Responsible event managers have always taken into account risk factors and planned for possible scenarios, but the introduction of the Act has brought under the spotlight the need for proper liability cover. If you are an event organiser, you have come to the right place.
KEU offers event liability cover that meets your needs. We have worked out the important areas because we have focused on insurance underwriting management for your industry since our inception. This gives KEU the ability to anticipate any potential liability and ensure that you are covered.
What you can expect from us
Event liability covers what you would legally be liable for should someone die, sustain a bodily injury or illness. It also covers loss of property and property damage.
Your broker will play a key role in guiding you through the intricacies of your specific event and helping you to determine the right insurance amount. Brokers are also knowledgeable about agreements that need to be formalised between the event organiser and the venue owner, as well as how to work around organising one event at various venues.
KEU's years of experience as insurance underwriting managers for events means that we have many tips we are happy to share with you. If a sub-contractor has their own insurance you need to have proof of their insurance certificates. Finally, in the event of a claim, you will need to produce the most recent version of the risk control register, along with a number of other documents.
What we expect from you
As an event organiser, we assume that you are skilled in your area of expertise. KEU expects you to meet certain expectations, like putting formal risk management practices in place and hiring professional contractors when you are not qualified to complete aspects of the project. You will also need to clearly understand and comply with the warranty of statutes in the policy wording.
KEU has a Risk Manager that will be able to assist you with pertinent points for annual and selected once-off events. This service is cost-free to you, the insured.
Areas that are not covered by KEU's Event Liability Policy
These differ depending on the type of event that you are organising. Some common exclusions are contractors or apprentices employed by the insured; property such as the venue; damages as a result of certain aircraft or self-propelled vehicles; fines or penalties incurred; fireworks and pyrotechnics; animal-related activities; alcohol or drug-related activities; security contractors and sub-contractors; products; professional advice (other than first-aid treatment) and damage caused by interference with land or an existing structure; seepage and pollution; nuclear energy and the first amount payable.
Possible extensions to Event Liability Policy
The discussion with your broker is important to identify possible extensions you may need to KEU's event liability policy. Common extensions relate to emergency medical expenses; spread of fire; legal costs; wrongful arrest and defamation; the collapse of a temporary structure; food and drink or costs related to the preparation of additional claims.
Download: Special Events Annual Liability Proposal
As an event organiser, you plan each event with meticulous attention to detail. You have taken the prudent step of event liability insurance and carefully anticipated the risks involved. But what will the financial impact be if the event is cancelled or abandoned?
It could be disastrous. KEU understands that exhibitions, concerts, conferences, processions, festivals and sports events carry a greater risk of cancellation or abandonment because by their very nature, they are cancelled due to circumstances beyond the organiser's control.
For example, natural disasters or fire and explosions may result in cancellation; perhaps technical defects make it impossible to let the "show go on"; or government intervention has put an end to the event. These possibilities are covered in KEU's standard Event Cancellation policy, but there are additional extensions available for adverse weather, riots and the catastrophic non-appearance of key people. There are exclusions, which you need to pay careful attention to and discuss with your broker to ensure that you are clear on the cover you have selected.
It is very important for you to note the documentation requirements of your KEU Event Cancellation Policy, such as an updated comprehensive budget for your event using the specified form. In case of a claim, the latest version of the budget will be necessary to prove the claim.
Only amounts declared in the budget at inception will be taken into consideration in the event of a claim. The specific amounts that will be paid to event organisers differ depending on when the event is cancelled and what existing written agreements are in place.