Special Events Insurance Key Terms

Some key terms for understanding special event insurance

For any kind of meeting or public event that a business is planning, looking into special event insurance is a good idea. Though it may seem like a detail, most business leaders consider this to be an integral safeguard to hosting any kind of function for risk management. Knowing about some of the basic key terms for types of special event insurance coverage will help first time buyers or prospective policy holders to figure out just what they need to insure their event.

 

Special event general liability insurance

General liability insurance for an event represents a broader policy that covers multiple risk elements of holding a public event. Many businesses use this kind of insurance policy to provide adequate (or required) coverage for a particular event.
Try: See more on general liability insurance for events at this info page from the National Alliance of Special Event Planners.

Liquor liability

Lots of event insurance policies include liquor liability insurance riders for covering all kinds of incidents resulting from liquor consumption. Always consider this aspect of special event insurance if liquor will be served.
Try: Find out more about liquor liability for events at Meeting.Com.

Terrorism coverage for special event insurance

Another element of special event insurance is coverage against acts of terrorism. Since 9-11, this element of special event insurance has become much more in play in American policy writing.
Try: Find more on terrorism coverage for special events at this guide on special event insurance from Biz Bash New York.

Vendor, exhibitor or concessionaire

In special event insurance, these terms are all used to describe a business that is operating specifically in the aid of an event in a specific locale that may be owned or generally operated by a different business.
Try: See more on vendor/exhibitor/concessionaire status at Special Event Insurances.

Premiums and liability limits

The premiums of an event policy are the amounts a policy holder will pay to the insurer. Liability limits are maximum payouts that an insurer will pay.
Try: See an example of premium and liability limit charts at this page from Sadler Sports.

Insurance broker

An insurance broker is a third party that helps a business secure insurance from a major insurance carrier. Insurance brokers are often useful in getting special event insurance, as they know where to go for specific coverages.
Try: Get a definition of an insurance brokers from ADVFN USA. Get more info on American insurance brokers from the Independent Insurance Agents and Brokers of America. Gale has a special event insurance broker information section,including a downloadable form.

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