Firstly, you have business insurance right? Does that not already protect you?
Then you have the Event Organiser telling you to either buy their recommended insurance cover or alternatively show evidence of Public Liability Insurance before they will let you exhibit.
The issue is that Event people are good at events. That’s what they do. They are not particularly good when it comes to understanding insurance. That’s why you have an Event Insurance Broker!!
So let’s explain the risks first, after all that is why people really need insurance. We will then address each risk with the appropriate insurance considerations:
Liability Claims from 3rd Parties.
These are known as Public Liability claims and can be for injury to somebody or damage to somebody else’s property. In an ever litigious society these types of claims are on the increase.
As an Exhibitor you are in a densely populated venue with a lot of people and property all around you. Without getting too legal, you are ultimately responsible for your negligent actions which lead to injury or damage. This means that if you injure somebody or damage somebody else’s property whilst at an Event, you might be liable to pay compensation to that person or organisation.
Let’s say you are showing off some new kit on your stand…somebody walks across it and trips up a loose cable…they might sue you for an injury suffered.
Another example could be when you are setting up or dismantling your shell scheme you knock into another Exhibitor’s stand and damage it. You will again be liable to pay for the damage.
This is where Public Liability Insurance comes in.
You will most likely already have a business insurance policy that provides Public Liability Insurance. The trouble is most of these policies do not extend to cover your actions away from the premises.
The solution is to do one of the following:
1) Extend your existing business insurance to cover your Public Liability risk when exhibiting. A large commercial combined policy will probably have the flexibility to do this but smaller package policies will not.
2) Purchase an Exhibitor Insurance policy from a specialist event insurance broker. These can be found online quite easily when searching ‘Exhibitors Insurance’.
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Things to check out for:
– If you think you are already covered on your existing commercial policy, speak to your broker. If you did not tell them about Exhibiting the chances are you are not covered.
– If buying a new Exhibitor Public Liability Insurance Policy check the Limit of Indemnity meets yours and your Organisers requirements. In the UK many Organisers will expect you to hold the same Liability limit as they do which can be £5m or even higher.
Article Source: http://EzineArticles.com/6979000