3 Critical Truths About Event InsuranceOne needn’t look far for information on event insurance. The question Bryan Warren asks is this: Is the full story being told? And if the current environment provides any clues, the answer is no, it definitely is not.
By: Direct Event Insurance 
Direct Event Insurance As proof, Bryan Warren asks event planners to consider these three areas before deciding on purchasing event insurance coverage: • Truth #1: Coverage Amounts Can Be Dramatically Different. Most venues require you to have the following coverage: General Liability Aggregate GL Products/Completed Operations GL Personal/Advertising Injury Each Occurrence Damages to Premises Rented to You $300,000 Host Liquor When shopping for coverage, make sure to check the contract to ensure your insurance meets the venue standards. The coverage listed above is the requirement for most venues in the US. Many policies are sold that do not meet these specifications – makes sure yours does before purchasing your nonrefundable insurance. • Truth #2: Coverage Types Are Not All the Same. Some policies include host liquor but many do not. If you are serving alcohol to guests as part of the event and not charging for it, you need to make sure your coverage includes this protection. If you are selling alcohol to your guests, you need to upgrade your coverage to Liquor Liability. This typically has a minimum cost of $250 but will be required if you are in the business of making, distributing or selling alcohol or you simply are selling liquor by the drink and/or require a liquor license to hold your event. • Truth #3: Not All Risks Are Treated Equally. The cost of your coverage will depend upon the type of event you are insuring and the number of attendees. A heavy metal concert with 20,000 folks attending is definitely going to cost more than a jazz concert with 2,000 folks. Since a major component of the price of your insurance is the number of people attending the event, make sure you do not overstate the attendance – this will end up costing you money that could have been saved. For a free risk matrix that will assist you in how to manage and mitigate risk for your next event, go to http:www.directeventinsurance.com and claim immediate access. There is no cost. For media inquiries, to arrange an interview or an expert quote on business insurance please contact Brenda Legger at 469.396.6278. About: Bryan Warren is a trusted authority on event insurance and risk management. He has over 15 years of risk mitigation experience. Bryan is licensed in all 50 states as a Commercial Property & Casualty agent and has MBA’s from Columbia Business School and London Business School. Direct Event Insurance is headquartered in Dallas, Texas and is a member of the Helios Capital portfolio of companies. The firm is licensed in all 50 states and specializes in providing special event, weather, event cancellation and prize/indemnity insurance. # # # Direct Event Insurance is an innovative force in the special event liability insurance market. Helios Insurance Group is a leading business insurance firm offering an integral approach to protecting stakeholders while fostering sustainable growth. Photo: https://www.prlog.org/ End
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