3rd Party Insurance
If you use 3rd party providers in putting your event or festival together you need to ensure:
1. They sign a waiver and release holding you harmless for any unexpected losses based on the 3rd parties negligence and
2. They have proper insurance coverage naming you as an additional insured during the dates of the event. Typically, the 3rd party should have coverage with a minimum of $1,000,000 per occurrence. The 3rd party coverage protects you in the event that a lawsuit is brought against you for negligence of the 3rd party. Ensure that the 3rd parties certificate of insurance certified the coverage shown on the date the certificate was issued. Make sure that the 3rd parties insurance has not been cancelled or that the aggregate limits have not been exhausted by prior claims.
Participant Waivers
If possible, you should also consider making sure that each of your festival or event attendees sign a waiver releasing you from any liability. Waivers are always a good idea but are not always 100% full proof in protecting you.
Conclusion
When thinking about your risks, it is always good to consult an attorney. When planning your event or festival, consider your risks and design ways to mitigate your exposures. Properly thought out insurance coupled with waivers by 3rd party vendors and event participants provides you with the most peace of mind and protection.
Legal Disclaimer
The materials available in this article are for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem.
E1 Event Insurance is an innovative force in the special event liability insurance market. We have extensive experience within all areas of entertainment insurance and event insurance. We will personally guide you through the perils of both executing a successful, entertaining and purposeful event, while insuring that you and your guests are covered in case of an unexpected event.
If you use 3rd party providers in putting your event or festival together you need to ensure:
1. They sign a waiver and release holding you harmless for any unexpected losses based on the 3rd parties negligence and
2. They have proper insurance coverage naming you as an additional insured during the dates of the event. Typically, the 3rd party should have coverage with a minimum of $1,000,000 per occurrence. The 3rd party coverage protects you in the event that a lawsuit is brought against you for negligence of the 3rd party. Ensure that the 3rd parties certificate of insurance certified the coverage shown on the date the certificate was issued. Make sure that the 3rd parties insurance has not been cancelled or that the aggregate limits have not been exhausted by prior claims.
Participant Waivers
If possible, you should also consider making sure that each of your festival or event attendees sign a waiver releasing you from any liability. Waivers are always a good idea but are not always 100% full proof in protecting you.
Conclusion
When thinking about your risks, it is always good to consult an attorney. When planning your event or festival, consider your risks and design ways to mitigate your exposures. Properly thought out insurance coupled with waivers by 3rd party vendors and event participants provides you with the most peace of mind and protection.
Legal Disclaimer
The materials available in this article are for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem.
E1 Event Insurance is an innovative force in the special event liability insurance market. We have extensive experience within all areas of entertainment insurance and event insurance. We will personally guide you through the perils of both executing a successful, entertaining and purposeful event, while insuring that you and your guests are covered in case of an unexpected event.
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