Event and conference organisers provide a crucial service in the modern business world – delivering a professionally planned event or gathering which allows people to get together and share knowledge smoothly and in comfort. As such, they are often trusted to deliver an occasion which may be designed to help a business or even to maintain its existence. And, as any event planner knows, not everything always goes according to how it is envisaged – this is why some people operating in the sector take out event conference organiser indemnity insurance.
Mistakes can be made both by a planner themselves or by their suppliers or subcontractors. This means there is a risk the event might not be quite as much of a success as hoped. Because event and conference organisers are seen as professional consultants in their field, this can then leave them open to being sued by a client, who may suffer a financial loss because of a planner’s mistake.
Event/conference organiser indemnity insurance is designed to guard against this risk by covering any financial costs which arise from defending such a legal case. In more detailed terms, it will protect against a legal claim which arises from a policyholder’s mistake or act of negligence.
Legal costs would also be paid for should an event or conference organiser business or individual face a claim that they have defamed someone through libel or slander or unintentionally breached someone’s confidence or copyright. If a company has employees, a policy will also provide protection in the event of a legal claim which relates to an act of dishonesty from them, ie should they steal from a client.
Many policies cover all sorts of eventualities. For example, a claim might arrive in relation to something that happened weeks or even months before a policy was even taken out – most insurers will have a policy which will cover this circumstance.
Although indemnity insurance may have previously been associated with the likes of graphic designers and private medical professionals, it is increasingly important to a growing number of firms. An event conference organiser indemnity insurance policy is therefore a possible lifeline to a business in the event of an unlikely, but possibly very serious, legal claim.