When Do I Need Public Liability Insurance?
In today’s society, it is vital that event organisers have protection for their liabilities against any potential claims. Whether they be a single person, group, association or company organising exhibitions, community fun day, live music festival, water sports activities or arts and craft fayres. In short, public liability insurance is always recommended. It can mean the difference in protecting your event or being liable to pay the financial consequences of a claim.
If a Venue Already Has Cover, Why Do I Need Public Liability Insurance?
A lot of venues will state that in order to hold your event on their premises, you and any of your contractors must hold your own event public liability insurance up to a certain level of indemnity – most commonly £5,000,000. This is as the venue’s liability insurance will not normally extend to cover any third parties holding an event on their premises. Everybody must be held accountable for their own actions. Additionally, the venue’s insurers will not want any liability claims that were the fault of a third party.
This requirement will also extend to any outside contractors which you are hiring in for the event. This can include equipment technicians, stall holders, exhibitors etc. They too must be held accountable for any incidents which they are at fault for. For example, if somebody trips over a loose bit of flooring, this is the venues responsibility. However, if somebody was to trip over equipment left out by a stall holder, that would be their responsibility.
If The Event Organiser Has Public Liability Cover, Does The Venue Need Insuranc?
It works the same way the other way around too. When an event organiser takes out a policy, there is normally an endorsement stating that the events venue must hold their own insurance. This is because the insurers of the event organiser will not want to pick up any liability that is the fault of the venue.
Example of this kind of endorsement: Venues – Warranted venues hold own Public Liability insurance at no less than hereon.
Public Liability Insurance Questions Answered
Do you have any questions regarding insurance for the venue of your upcoming event? Contact David J Miller Insurance Brokers to discuss your event insurance queries today.