Many clients and individuals I know run organizations, whether non-profit or other, that hold events. Organizations often use these events as fundraisers to generate income. Especially in the case of non-profits, events can be some of the largest sources of revenue.
Event insurance may help cover your organization’s event in the current situation. If you have an event coming up, and have event insurance, you want to review the details of the policy you purchased to see what exactly is covered and under what circumstances.
If you are planning an event for the future, but you are uncertain of what is to come and how it might impact your event, event insurance might be the answer to help you continue to plan with the assurance that if you cannot hold your event you will not be completely out of luck.
Whether you are reviewing the policy you currently have or looking to purchase one, you want to pay close attention to the details in the terms. Working with a lawyer is always best, but if you choose to review on your own some places to pay close attention to are;
Timeframes around cancellation
Cancellation notice needed
What is within the coverage and conversely what is excluded
What types of events are covered
What dollar amount can be recovered; is it a percentage or dollar cap
Can you purchase more coverage to cover your total investment in the event.
As always, if you need help, please reach out.