Concert and Festival Event Insurance
Planning a concert or festival from start to finish is a huge undertaking. We work with event planners and concert promoters around the country and each event is as unique as the person planning it.
One of the unpleasant tasks involved in planning the perfect event includes thinking about all the “what can go wrongs” and how you protect your investment from unexpected accidents and occurrences.
Some key questions to consider when insuring concerts or festivals:
1. Have you identified the hazards or perils that the venue may present?
2. Have you identified the hazards or perils that the crowd may present?
3. Have you identified the hazards or perils that the 3rd party vendors you may use are covered? Examples of 3rd party vendors who work for you may include security, food and drink servers, etc.
4. Are the risks identified in (1) and (2) and (3) adequately covered?
5. Have you put together comprehensive plans to manage/cover all eventualities including obtaining event insurance to cover all of your exposures?
Unfortunately, society has turned litigious in recent years and personal responsibility has turned into finger pointing and finding someone else to blame. You do not want to be on the accusatory end of the proverbial pointed finger. In this environment, it’s prudent to obtain peace of mind by guarding against unexpected occurrences or misfortune and obtaining event insurance.
Legal liability is not just limited to special occasion permit holders or event planners. Claims and lawsuits have been brought against venues, clubs, wedding organizers, universities, private hosts, and those managing community events. Most venues today will request that you have a certificate of insurance naming the venue as an “additional insured.” The certificate of insurance confirms the effective date of the policy, the type of insurance coverage purchased, and the types and dollar amount of applicable liability.
Generally, venues today will look for a certificate of insurance with a $1,000,000 per incident limit and $2,000,000 aggregate limit. Make sure and read your venue contract carefully to ensure that you know your risks. By naming the venue as an additional insured, the venue is confirming that it will be defended by your policy if brought into a suit that relates to the operations being insured.
3rd Party Insurance
If you use 3rd party providers to set up, or tear down, your event these people also need event insurance that covers their specific role, unless:
1. They sign a waiver and release holding you harmless for any unexpected losses based on the 3rd parties negligence, and
2. They have proper insurance coverage naming you as an additional insured during the dates of the event.
Typically, the 3rd party should have coverage with a minimum of $1,000,000 per occurrence. The 3rd party coverage protects you in the event that a lawsuit is brought against you for negligence of the 3rd party. Make certain the 3rd parties certificate of insurance certified the coverage shown on the date the certificate was issued. Make sure that the 3rd parties insurance has not been cancelled or that the aggregate limits have not been exhausted by prior claims.
If possible, you should also consider making sure that each of your festival or event attendees sign a waiver releasing you from any liability. Waivers are always a good idea but are not always 100% full proof in protecting you.
Concert and Festival Event Conclusion
When thinking about your risks, it is always good to consult an attorney. When planning your event or festival, consider your risks and design ways to mitigate your exposures. Properly thought out insurance coupled with waivers by 3rd party vendors and event participants provides you with the most peace of mind and protection.
The materials available in this article are for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem.
Direct Event Insurance is an innovative force in the special event liability insurance market. We have extensive experience within all areas of entertainment insurance and event insurance. We will personally guide you through the perils of both executing a successful, entertaining and purposeful event, while insuring that you and your guests are covered in case of an unexpected event.