You would hope that most businesses have comprehensive insurance these days, especially given all the liability claims that are going through the courts recently. Most companies have had to learn the hard way that unless you are well covered, you could be paying out for things you havent even previously considered. One area that is still not given the attention that it deserves is insurance for clients hospitality or entertainment events. Here are the two main reasons why people need to get cover.
Damage or Injury. The company that organised the event, be it a day of sky diving or just corporate hospitality in the park, are potentially liable for any loss or damage. Most companies that run the actual entertainment should have their own cover, but this doesnt take into account the travelling or time spent off the grounds of the activity. If someone should get injured, have their possessions stolen or cause damage to any property for example, it could be the company organising the day footing the bill. Make sure your company is covered for the whole duration of the event and in all locations.
Unforeseen Circumstances. Insurance is not just necessary to protect against liability claims, but also cover unforeseen issues with the event itself. Lets say for example you are taking some of your best clients on a Cheltenham hospitality day, but it gets rained off. There is a chance that the event providers will payback the money to people who have booked tickets out of their own insurance cover, but you cannot rely on this and should always check first. Additionally you might have to claim for money you have forked out for on travel costs and all the other little things that are required for entertainment events. Events such as Henley Regatta are very good as they offer money back to anyone who cannot make the event due unforeseen circumstances, but this is a rarity and you will not be so lucky with most events.
Tags: business, corporate entertainment, cover, insurance, protection