DO YOU HAVE THE RIGHT INSURANCE COVER?

By Exhibition and Event Association of Australasia , 7 February, 2017


EEAA has stressed the importance of ensuring Members are “risk aware” and last year the Association ran a series of Security and Safety Training Workshops to assist Members in their safety and risk management plans. Insuring against risk is also an important consideration.

The Association has a long standing partnership with Aon Insurance and Client Manager, Philip Sunshine has offered EEAA Members the following food for thought.

“Most exhibition organisers know that they must have public liability insurance in place, not least to meet the requirements of the venue. However, do you need more than that?

“Consider three scenarios that exhibition organiser clients of ours have encountered, just in the course of the past few years. The first was an organiser who experienced a power black-out at the venue on the second morning of their show, necessitating the abandonment of their event and the refund of all exhibitors.

“The second is an organiser who checked that the public transport link to their event, which was crucial to its success, would be available on the weekend in question, only to find, as the event drew closer, that the organisation responsible for managing the link had changed their plans and scheduled maintenance works.

“Lastly, the organiser who scheduled their Melbourne event for the weekend after the AFL Grand Final in 2010, only to see that match finish in a draw, necessitating a replay one week later. You can never know what might happen that will impact on your event. Shortfall/cancellation insurance covers all of these scenarios, as well as a multitude of others which are too numerous to list.

“Even if, as an organiser, you make the bold decision to self-insure this risk and just persist with only public liability insurance, will that policy protect you?

“Many venues in Australia have conditions contained within their contracts that make their hirers responsible for third party injury or property damage, even damage to the venue itself, which because of the way in which the contract is drafted, will not be covered by any other public liability insurance policy, except the one that we make available via QBE Insurance (Australia) Ltd. If catastrophic injury is involved, buying the right policy could literally save you from a multi-million dollar uninsured exposure.”

For more information contact Philip Sunshine
(02) 9253 7697 or [email protected]

RESOURCES: SOCIAL ENGINEERING FRAUD BECOMING MORE PREVALENT
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Source: Exhibition and Event Association of Australasia