Each event comes with unique risks, from corporate conferences to music festivals.

Weather disruptions, venue mishaps, supplier failures, and unforeseen cancellations are just a few pitfalls that could derail even the most meticulously planned occasions.

While recognising and mitigating these risks is paramount, insurance can provide financial protection and peace of mind.

It could shield organisers from the costs associated with unforeseen circumstances.
Whether it's property damage, liability claims or event cancellation, the right insurance coverage can spell the difference between a minor setback and a catastrophic loss.

Why liability insurance is essential for events
Liability insurance is one of the main insurances that event companies rely on. This protects organisers from legal and financial liabilities arising from accidents or injuries that happen during the event.

From slips and falls to equipment malfunctions, liability insurance may provide protection against lawsuits and compensation claims, allowing organisers to focus on delivering memorable experiences.

Event cancellation insurance is another essential part of risk management for these businesses. Even after months of effort planning an event, unforeseen circumstances like extreme weather, natural disasters or unexpected vendor cancellations canderail an event at the last minute.

Event cancellation insurance may reimburse organisers for expenses and revenue and minimise the financial fallout of a cancelled or postponed event.

"Event organisers often take out policies for specific events. If they run five or six events a year on one property, the policy might cover all the events," says Michael White, Steadfast Broker Technical Manager.