One thing that is predictable for any businessman is that events have a way of being unpredictable.
When it comes to the convention or trade show, extreme weather like a hurricane, acts or risks of terrorism, employee strikes or protests and other events that no one can foresee, the consequences can be extremely damaging.
RELATED: why terrorism insurance?
If there is no alternate place to host the event, the scheduled program needs to be cancelled. This obligates the event sponsor to reimburse registration costs. In some instances, a cancelled event can also result in key income losses for the full fiscal year.
Convention or Trade Show Insurance
Insurance for the convention or trade show can shield an event sponsor from financial losses. the policy is also applicable to part or full cancellation. Coverage can help pay for an alternative housing of the event.
Coverage extends to perils from any direct physical cause beyond the control of the policyholder or convention or trade show’s partaker’s control.
Standard coverage exclusions include:
- Dearth of funding capital
- Not enough participant backing
- Non-punctual exhibit set-up or no-shows
- Nuclear risks
Limits of coverage are determined by projected gross earnings from members. Policy also covers expenditures.
For more about insurance for the convention or trade show, contact the commercial insurance professionals at Prime.
PRIME Insurance is a three-generation family-run independent agency. We’re proud partners with many of the leading companies in the industry – big names, such as ACE, AmTrust, ASI, ASSURANT, CHUBB, CNA, Employers, FOREMOST, Liberty Mutual, MetLife, PROGRESSIVE, Safeco, StillWater, Travelers, USLI, ZURICH and more. This gives us the ability to provide all forms of nationwide coverage at competitively lowest quotes. Visit us on our online at our insurance website or email us at PRIME [at] primeins [dot] com or call us at 732-886-5751 and HAVE A PRIME DAY™!
Summary: Like any special event, the convention or trade show has exceptional exposure to risks. A main concern is the possibility of cancellation due to unpredictable occurrences, such as weather, war and terrorism. Prime summarizes the insurance that covers the related losses.