Happy Mardi Gras: Purple, Gold and Green are filling the Scene! Are you celebrating Mardi Gras today?
Being in the business of solving insurance problems, we can’t help but recognize the risks involved with large events and festivals. So, in honor of the holiday, we’re going to share facts about “celebration coverage.” Yes, it does exist.
Jon Wilkinson, CFO of WorldWide Special Risks, a Lloyd’s coverholder that writes policies specifically for festivals and street parties share the following details about this specialty coverage and explains,
“Sometimes insurers are the ones that make sure the show can go on!”
“Celebration coverage” may include:
– Public and Employer’ liability will protect event coordinators in the event they are accused of being negligent, and most often when someone is injured at a venue. This is especially important when you consider that people may be under the influence and may behave in unpredictable or erratic ways that are contrary to how they would normally behave.
– Cancellation or abandonment coverage will reimburse organizers for costs, in addition to expected profits if certain festivities must be cancelled. Even if the event is cancelled due to poor weather or an “Act of God.” This means that you aren’t out any money if the event you created can not go on as planned.
– Property damage ‘All Risks’ Cover will protect hired staff and customers as well. It covers all equipment or property in the event of theft or damage. Can you imagine the costs associated with ruined sound equipment or what could happen if revelers get a little too rowdy.
Have a happy and safe Mardi Gras!