Why is it necessary for Venue Owners Event Companies, Wedding Planners, Exhibition Companies, to take a Commercial General Liability (CGL) Insurance Policy?
- Events mean high volumes of people and property – but an equally high volume of fun and excitement. In order to offer the most carefree and playful experience as possible, make sure that your venue is ready for action when trouble strikes.
- Every time there is an event at the venue tons of Electronic equipment, Venue and Stage gear comes in and out of each venue – not to mention thousands of spectators and countless performers – the level of exposure that these types of businesses must mitigate is through the roof.
- Simple mistakes could result in severe financial losses that put your business at risk. The good news is that the CGL insurance Policy protects against a wide range of incidents.
- Some policies limit you in certain ways: for example, it may dictate the number of attendees you must not exceed for the policy to be valid. No matter what types of events regularly unfold at your venue, We can help you understand your options and build out a policy that protects you from all angles.
What Does Commercial General Liability Insurance Policy Cover?
- As an event host, you are responsible for the safety of your attendees and third party as well as your owned and rented assets. Here are the most common elements considered by venue insurance.
- Audiences / Invitees / Guest: CGL Insurance protects your company if an audience member or third party gets physically injured on your premises. The same coverage applies to any property belonging people who are not affiliated with your venue or staff.
- Property: Before “action” comes lights and camera. Make sure your assets are backed financially thanks to a policy that insures them in the event of breakage, loss, or theft.
Commercial General Liability coverages at a glance for third party bodily damage or property damage
All the below coverages will differ from Insurer to Insurer
- Personal and Advertising Liability
- Fire Damage: – (limited liability)
- Medical Expenses: For First Aid at site only – (limited liability)
- Incidental Medical Malpractice
- Legal Defence Cost
- Non-Manual visits of Employees Overseas
- Care, Custody & Control – (limited liability)
- Valet Parking
- Transportation Liability
- Non-Owned and Hired Automobile Liability coverage
- Liability covering Contractors, Sub-Contractors, Vendors, Suppliers etc
- Food and Beverage Liability
- Liquor Liability
- Cross Liability
- Act of God Peril
- Life Escalator & Elevator Liability
- Waiver of Subrogation
- Designated Premises Endorsement
- Legal Liability due to carriage of treated effluents by pipeline
- Additional Insured Endorsement – where required by written contract
Request you to kindly call us to discuss your Event Insurance requirement in brief and advise you on the same.
Khushroo Kekobad
Call / WhatsApp – +919967066845
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