30 March 2010
Do You Need Insurance For Your Corporate Events?
Posted by articleranks under: Money .
It is most people’s incorrect assumption that all certified businesses will have insurance for every eventuality and that given all the liability claims recently, no one would leave themselves upon for attack. It is now necessary to consider and plan for almost all possible occurrences and companies who don’t can often feel the wraith of the claims courts. One area that is still not given the attention that it deserves is insurance for clients hospitality or entertainment events. Lets take a look at 2 of the top reasons why insurance is a necessity.
Damage or Injury. The company that organised the event, be it a day of sky diving or just team building in the park, are potentially liable for any loss or damage. The majority of entertainment providers should be covered by their own policies, but this only protects people when they are on the event grounds and not before and after. Everything from loss of personal possessions, to serious injury or damage can be claimed for against the business, and the expenses can often be a great deal more than the company can afford.Avoid this happening to your business by planning for and insuring against as many eventualities as possible.
Unforeseen Events. Injury and damage claims are not the only things insurance is needed for, their are many other eventualities that can lead to a business needing to claim on their insurance. Lets say for example you are taking some of your best clients on a Cheltenham hospitality day, but it gets rained off. Potentially you could get your money back for the event, but often a clause is written into the booking saying that the no responsibility can be taken for acts of God. Also, you may have spent additional money on food and drinks, transport and miscellaneous, that you will not get back without insurance. Events like Henley Regatta are very good as they offer money back to anyone who cannot make the event due unforeseen circumstances, but this is a rarity and you will not be so lucky with most events.