As the owner of a sports and entertainment business, you probably know how fast-paced and risky the industry can be. While this can be an exciting area of business, you have to have a lot of moving parts coming together perfectly to be successful. Whether it's the loss of valuable production material, damaged equipment, or the last minute cancellation of an event, your entire operation could be at risk if you fail to take the right precautions.
Sports and entertainment insurance policy to consider
Insurance is valuable to all types of businesses and is particularly useful in sports and entertainment and similar areas. Here are some policies you should consider.
amateur sports insurance is a type of insurance designed for amateur sports groups that organize or supervise sports activities. It usually includes general liability, participant liability, crime, property, excess accidental medical treatment and excess liability. It is also possible to obtain optional coverage for sexual misconduct liability, non-owned cars and sporting equipment.
event weather insurance provides protection against severe weather conditions that may reduce your sources of income such as offers, parking, food and ticket sales. Ideal for festivals, sporting events, parades, concerts and air shows, it covers weather issues such as lightning, wind, snow and rain.
Event cancellation insurance
Mass events are cancelled with a football background, and if your sports and entertainment company regularly hosts events that generate significant revenue, it's a good idea to cancel insurance for buying events. This insurance protects your event income and expenses from cancellation, rescheduling, postponement or waiver for any reason beyond the control of the Organizer.
For example, it prevents inclement weather conditions, such as winter storms or hurricanes, acts or threats of terrorism, earthquakes, labour strikes, wildfires, the absence of key personnel, and the inability of sites to be used due to fires or floods. It also extends to mandatory reductions in attendance, which means that it can cover situations where attendance has decreased significantly as a result of one of the situations covered.
Whether your sports and entertainment company hosts indoor or outdoor events, there are many factors beyond your control that can pose risks. special event liability Insurance protects the physical injuries of participants and spectators of the Event and any damage to the property of the venue. This is a tailor-made policy that covers event organizers, planners and suppliers.
If you're working on a video project, a good movie-making insurance policy can protect abroad if filming is delayed due to bad weather or other revenue-reducing issues that prevent shooting.
Production insurance is comprehensive and includes components such as general liability insurance, error and omission insurance, network liability insurance and travel accident insurance. It can pay legal fees and damage to equipment.
Because of bad weather, even a slight delay in shooting time can lead to adjustments to shooting times or over budget. This may require more shooting time, more travel, or a loss of critical talent, which may cause the entire production process to stop. It is therefore very important to take such protective measures.
Stage and rigging is the basis of many events, and it brings high stakes if things go wrong. For example, the number of people attending an event may be injured by uncertainty. A staging and rigging insurance policies protect you from the high legal fees that may be incurred in such incidents, as well as protecting equipment in the event of damage.
If your sports or entertainment company plans to travel in any form with performers, artists or entertainers, travel insurance can be provided in the event of an accident, if you are waiting in line for happy passengers whose turn is their turn to get on the bus. A one-stop-to-one tour means there are many opportunities for accidents or equipment damage, which can lead to large costs. Travel insurance gives you peace of mind that your tour is well protected.