What is event insurance?
An event insurance policy offers short-term liability coverage. Much like an annual general liability policy, it protects your business operations from third-party claims of bodily injury or property damage. However, it does so on a short-term basis, for the duration of a specific event. This type of coverage is frequently required by landlords, managers, and lessors of premises, so you may see it requested in a contract for the use of a venue or space. If you are asked by another entity you're working with to name them as "additional insured" for a specific upcoming event, event insurance may be right for you.
Some examples of third-party bodily injury include:
- An audience member is accidentally hit by a falling set piece during your theatrical production, and is injured.
- A person passing by your film shoot accidentally trips on the equipment you're using for the shoot, and is injured.
Some examples of third-party property damage include:
- Dancers rehearsing as part of your project cause damage to the floor in the studio you're renting.
- The installation process for your public art project causes damage to the surrounding park space.