Whether you are planning your first conference or your tenth, it is absolutely imperative that you protect your organization’s interests during the event. The more obvious elements of protecting interests involve physically securing the premises (i.e. security guards and other safety precautions). However, it is just as important that you protect your organization’s financial interests as well.
The financial risks associated with a conference
Even a small conference will have dozens, if not hundreds, of attendees, workers, and miscellaneous individuals on the premises. Each one of them is a potential liability, and it is up to you to ensure that your organization’s exposure to risk is minimized as much as possible. One of the most common risks associated with a conference is liability risk if someone slips and falls, or suffers any other type of accident or injury while on the premises. Even if your organization is not technically liable, the proper event insurance can help cover court or settlement costs if it comes to that.
There is also a significant risk associated with damage to the premises you are renting for the conference. If attendees cause significant damage, the premises owners might come to your organization to cover the cost of the damage.
Finally, there is, of course, the risk to your organization’s owned or rented equipment. Depending on the type of conference you are holding, there could easily be tens of thousands (if not hundreds of thousands) of dollars’ worth of equipment at the conference. Having insurance to cover accidental or intentional damage can provide peace of mind, and can significantly reduce the cost of the conference for your organization in the event of damage.
Types of event insurance for your next conference
Marine Agency offers top-tier insurance policies for conferences, which can be broken into three main categories.
Liability insurance is simply general liability insurance, similar to what retail locations can have on their public premises, and can cover damage that occurs to the premises itself.
Property on Exhibition Insurance
Property on Exhibition Insurance is specifically designed to insure against theft or damage that occurs to equipment during the conference.
Business Crime Insurance
Business Crime Insurance covers any criminal act that occurs during the conference, such as theft of conference funds.