Event360: Event insurance set for comeback, says Black Tomato

Event insurance could be set to make a comeback after falling off the radar, according to The Black Tomato Agency's business development director Elliott Grant.

Event insurance may be coming back
Event insurance may be coming back

Speaking at a Huddle Session on destination choice and crisis management at Event360 at Building Six at The O2 today (25 May), Grant shared his team’s experience of dealing with a group that were in Paris during the November terrorist attacks.


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He admitted that confusion about who is covering additional costs incurred in the event of a crisis can easily arise. For the Paris event, delegates were individually insured, which made it very difficult in the aftermath in terms of making claims.

"Event insurance seems to have fallen off the radar in the past few years. I don’t think we’ve had a single client ask us about event insurance but I can see it starting to come back into play in the current climate," he said.

"It should only be about 1% of the cost of the event so it can be incredibly good value and it would certainly have been useful for the Paris event. I would actively recommend clients consider event insurance as it removes any confusion over liability."

Grant added that since Paris, the agency has overhauled its crisis management process, which involves appointing clear roles including a financial lead for every event the agency delivers.

More:

Event360: Four tips for pitching new destinations 

In Pictures: Event360 2016 - part 1

Event planners share top security tips at BCD M&E workshop 

Security update: Where's off the pitch list? 


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