If your business regularly hosts conferences, or if you are planning your very first conference, then you are likely wondering about the insurance requirements. What cover do you need to ensure that you will be insured for every eventuality?
Whether you are planning a single-day event, or a conference that lasts a number of days, in this post we will discuss the different types of insurance cover you may need for your conference.
Do You Need Insurance For a Conference?
First, contact the conference venue to see what sort of cover they require you to have as part of their booking conditions. Usually they will only be interested in whether you have liability insurance, but they may have a minimum level of cover that they require you to hold
Your existing business insurance may provide some cover for the conference. For example, your employer’s liability insurance may cover your own staff for anything that might go wrong while they are working at the conference.
However, you must not assume that the venue’s insurance, along with your own insurance, will give you all the cover you need. To ensure you are fully covered for anything that might go wrong, it is a good idea to take out some specialist conference insurance for your event.
Conference Cancellation Insurance
If you need to cancel your conference, for any reason, then the money expended to that point in securing the venue and other components could be lost. In addition, your speakers may request that you refund any travel and accommodation expenses. You may also be commercially obliged to refund attendees payments for attending. This could leave you seriously out of pocket. But cancellation insurance can cover such costs, along with certain other expenses that may arise as a result of a cancellation.
Cancellation insurance can include cover for:
- Full cancellations, along with significant alterations to the original conference plan, such as curtailment, alternative speakers, and moving the conference to a different time or venue.
- Non-appearance, should key speakers or guests not show up, or cancel at short notice.
- Disruptions as a result of terrorism, bomb threats, strikes, protests, or adverse weather.
- National mourning, should you need to cancel your conference as a result of a death.
Property Insurance
The venue’s insurance should cover any equipment they provide, such as sound systems, tables, and chairs. But you may need to take out dedicated property insurance for any additional equipment you bring to the venue, whether you own it or hire it specifically for the conference.
This can also cover any loss or damage to your property while it is in transit to and from the conference venue. Plus, if you hire equipment for the conference, and this equipment is lost, destroyed, or damaged, your property insurance can cover any ongoing hire charges, along with necessary repairs or replacements. Always check your contract for equipment hire to establish whether you are required to insure it.
Public and Event Liability Insurance
Public liability insurance, or event liability insurance, will cover you for claims made by attendees, venue owners, and other third parties for any personal injuries or loss or damage to belongings and property.
The venue will have their own public liability insurance, but this will cover them for their own negligent acts, you will need your own policy to cover your liability should an accident be down to you. It is normally a condition of booking the venue to that you have this type of insurance. Once again, you may need dedicated public liability insurance for your conference if your annual public liability insurance has not been extended to cover your events.
How Much Conference Insurance Do I Need?
The amount of conference insurance you get, and the amount you pay for your cover, will depend on a number of factors. This includes the size of the event budget, the event’s duration, the number of attendees, the number of staff onsite, and any special arrangements for guests or speakers.
James Hallam is an independent Lloyd’s broker with access to a hand-picked selection of A-rated insurance providers. We can help you get all the cover you need for your conference, including specialist insurance for your staff, your attendees, and your property.