The events industry is highly innovative and creative but the pressure to create a unique event experience means there is a high level of risk in everyday work.
Insurance and risk management is therefore an important part of enabling creativity in a professional industry.
This module serves as a brief explanation of insurance available for events, with a particular focus on event cancellation and event insurance.
What is event insurance?
At its simplest form, event insurance covers for the loss of costs and expenses, or revenues that result from the cancellation, abandonment, postponement, interruption or relocation of an event due to uncontrollable circumstances.
Event insurance is a niche insurance product and not all insurance companies or brokers will have access or expertise in this area.