Insurance for Event Promoters

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What Event Promoters Are All About:

This industry includes individuals and businesses who promote and manage events. Promotions and management can include sports, agricultural fairs, air shows, arts festivals, beauty pageants, boxing events and more.

What type of insurance does this industry need?

  • General Liability This policy protects your business in case of third party claims, such as bodily injury or property damage. For example, the common "slip-and-fall" claim would be covered by your General Liability policy. General Liability insurance is often considered to be the core coverage, particularly for businesses that regularly physically interact with customers or sell physical goods. In addition, many businesses have a contract, like a loan or a lease, requiring that they have this coverage.
  • Professional Liability This policy, common in the professional services industry, helps to protect your business if a client believes they've suffered a loss due to a mistake or error made in a professional capacity. Your business may have contracts with clients or partners that require Professional Liability coverage, provide a "warranty or guarantee," or have clauses that require you to "indemnify or hold harmless" your clients. If so, Professional Liability coverage is often recommended. This coverage is also commonly recommended for any businesses providing advice related to legal or financial matters.
  • Errors & Omissions (E&O) This policy, common in the professional services industry, helps to protect your business if a client believes they've suffered a loss due to an error or omission on your part. Your business may have contracts with clients or partners that require E&O coverage, provide a "warranty or guarantee," or have clauses that require you to "indemnify or hold harmless" your clients. If so, E&O coverage is often recommended. This coverage is also commonly recommended for any businesses providing advice related to legal or financial matters.
  • Cyber Liability Cyber Liability insurance helps to protect a company that has been the victim of a cyber attack or data breach. When confidential records are breached, companies face a variety of fees (e.g., notification costs, credit monitoring, defending claims by regulators, fines and penalties), and this policy will help to cover those claims If your business collects or stores personally identifiable information on customers or employees digitally, there's the risk that this information may be breached and your company will face significant fees. Cyber Liability insurance, alongside cyber security and an effective response plan, is a simple way to protect your business from these potential costs.
  • Workers Compensation Workers Compensation covers an employee's lost wages and the cost of resulting medical treatment if they suffer a work-related injury or disease. It also covers services needed to help the employee recover and return to work. Workers Compensation coverage is mandatory in most states. The number of employees after which it's required differs by state, but you will generally need coverage once you have employees.

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