Insurance

June 1, 1999

Meetings & Conventions: Planner's Portfolio June 1999 Current Issue
June 1999 ChecklistPLANNER'S PORTFOLIO:

Checklist

BY CHERYL-ANNE STURKEN


Insurance

The following checklist was compiled with the help of Steve Warner, sales and marketing director of Insurex Expo-Sure Ltd., The Pantiles House, 2 Neville St., Royal Tunbridge Wells, Kent TN2 5TT, England

TYPES OF COVERAGE

  • Comprehensive general liability (a.k.a. commercial general liability): The bare minimum, it covers third-party claims for everything from bodily injury to property damage.
  • Umbrella coverage: This covers against anything not included in the basic comprehensive general liability. To qualify, you must have a certain amount of basic coverage.
  • Business interruption or convention cancellation (a.k.a. cancellation/abandonment): Protects the meeting sponsor(s) from financial loss in the event something occurs that prevents the meeting from taking place.
  • Personal injury liability: Malicious prosecution, libel and false arrest (for example, if trade show security wrongly detains an attendee during the event) are covered.
  • Contractual liability: This is a rider to general comprehensive and is an important consideration when entering into contracts that require the planner to indemnify the supplier.
  • Workers' compensation: This covers employees working on an event and protects against work-related injuries incurred while on site.
  • Employer's liability: This should be carried in addition to workers' compensation. It protects the event organizer against any legal obligations resulting from employee injuries or deaths.
  • Delegate travel: This may be offered to individual delegates, speakers and others involved in the event. It covers medical expenses incurred during the event, baggage loss or theft, and cancellation of the event itself.
  • Equipment: Equipment insurance protects borrowed or hired equipment (such as A/V equipment, translation headsets, computers and cell phones) against damage or destruction.
  • Prize indemnification: This is important coverage to have when money or goods are being offered as prizes. It protects the organizer against any financial burden should an unexpected event affect delivery of the prize.
  • Kidnap and ransom/extortion: A necessary consideration when diplomats or politicians are part of an event, this covers medical costs, business interruption, reward money and death.

    • DETERMINING INSURANCE NEEDS

  • List all revenue sources, including registration, sponsorship and advertising.
  • Break down total expenses, including any estimated expenses for which final invoices are not available. Be sure to include a provision for last-minute miscellaneous items.
  • Estimate net profit.
  • List the venue, and note whether any construction is in progress.
  • Profile each speaker, including mode of travel, approximate age and health status. For those traveling by air, include each speaker's carrier, point of departure and arrival date. Point of departure is important with international speakers because political problems might create travel delays.
  • Will teleconferencing be involved? Who will be responsible for providing it?
  • Estimate the number of attendees.
  • Will any attendees require special assistance? List specific requirements, including dietary considerations. This is important should an attendee require medical attention due to an allergic reaction.
  • Estimate the number of guests, including children, accompanying attendees, and list any special requirements.
  • Make a list of all sponsors, detailing the dollar amount provided by each.
  • Make a list of all suppliers. Ask each if it has insurance, and request a copy of the certificate of insurance.
  • Will transportation be provided for attendees? What will be their points of origin and destination?
  • Will any equipment be rented or borrowed? If so, list specific items.
  • Will attendees be involved in any potentially hazardous activities, such as whitewater rafting?
  • Will any prize money or merchandise be awarded during the event?


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