Why some might need event/conference organiser professional insurance
Being an event organiser can be an exciting and lucrative profession, and can also be highly satisfying when a client feels a convention or conference has gone well. But because event and conference organisers are often outside consultants commanding fees for their professional services, they can be vulnerable to accusations they have done a poor job in the event something has gone wrong or that their work has been below standard. This is what event/conference organiser professional insurance can protect against, in the event the individual or agency faces a legal claim.
Professional insurance for businesses and individuals often includes a degree of professional indemnity insurance. This is important as it protects against some of the financial threat of being sued because the client is unhappy. While this is hardly a frequent experience for many professionals, it can be extremely damaging if it does occur.
Hiring legal help can be expensive and time consuming, and if you lose the case you may be ordered by the court to pay compensation. Depending on the case, this can run up to a bill totalling thousands of pounds, hundreds of thousands of pounds or even millions.
But professional indemnity protection as part of event/conference organiser professional insurance would pay all your legal bills related to defending the case, subject to certain limits, and even covers the cost of any compensation which might be awarded against you if you lose a case. Normally a policy pays out if the individual or company is accused by a client of making a mistake, committing an act of negligence, or making an omission during an assignment. Protection applies whether you are in the early stages of a case or heading towards its conclusion, providing the payout limit has not been breached.
It also covers breach of confidence or copyright, and also has more extras like protection if you faced a defamation claim. Event/conference organiser professional insurance also need not be expensive as a policy holder can often decide on a level of protection which matches their business – with a limit of thousands or millions of pounds, and also with an excess which can reduce the cost of a premium.
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