Business insurance is thankfully becoming more common place among larger companies, but there are still many that do not recognise the importance of very comprehensive cover. 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.
Injury or Damage. The company that organised the event, be it a day of sky diving or just corporate hospitality in the park, are potentially liable for any loss or damage. Most companies that run the actual entertainment should have their own cover, but this doesn’t take into account the travelling or time spent off the grounds of the activity. 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. Make sure your company is covered for the whole duration of the event and in all locations.
Unforeseen Events. There might not be any issue with the guests or property, but problems can still occur with the activity itself. Let’s 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 such as 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.
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