Insurance policy needed for a large music event?!?!

icebergx

Hi all,
I need to get a Third Party Liability policy for a large music event I'm organising in Denmark. Can anyone point me in the right direction with regards to where to find such a policy?

Thanks very much.

dacouch

It depends how large it is, how many are attending?

icebergx

Max capacity is 32,000 guests.

dacouch

With that size of event you have two options.

1) Arrange Insurance in the UK with a UK company the chances are it will be underwritten by Lloyd's of London. To get a quotation you would need to approach a specialist broker with access to the Lloyd's market.

2) Arrange cover locally in Denmark, I don't know the Danish market, I suspect it is not as well developed as the UK market. However they may not have the same problems we have with personal injury claims so it might be cheaper.

For an event that big it will be worth considering the following covers.

Employers Liability for stewards etc etc (This is compulsory in this country so depending how the event is set up you may be required to have this).

Contigency Cover - this could cover you for instance if there was a strike or major disaster in Denmark that stopped the event or affected the income.

Pluvius Cover - This covers you if it rains and covers the income you lose / expenses you incur

Event Equipment - Covers the equipment you have or might be responsible for through hire agreements

Non Appearance - Covers you for key acts not turning up

Bond / Guarantees - You may want to take out cover in case a major supplier goes bankrupt or you may need to take out cover for the event of you going bankrupt

It's quite a specialist field and any Insurance is likely to be expensive on an event that size. I would recommend you go direct to specialist brokers rather than go to a local broker as the local broker will go to a specialist and the local brokers commission is likely to be added to the premium.

If you want some pointers for companies that can help I can give you a few.

What sort of event is it?

icebergx

Thanks very much for your help Dacouch.

It's a dance music event. I (my company) will be purchasing the licence to run the event for 2010 but most of the production will be delivered and setup by the Licence owner. It'll be an indoor event in a Football Stadium with a closing roof.

Our Licence contract mentions that we need adequate insurance to cover injury and or death for guests and our production staff.
The Stewards/security are provided by the stadium and I assume their safety is covered by a policy of there own.
The Bond Guarantee and Pluvius cover are of interest to me.

Any help you can give would be greatly appreciated?
Would you be able to recommend any brokers in particular or point me in the right direction

dacouch

I'll post a few up for you tomorrow.

Here is the link for the Danish Insurance Association, if you contact them they can probably recommend a company / broker in Denmark. It could be worth trying this as insurance may be much cheaper there although the downside is the documents might be in Danish http://www.forsikringogpension.dk/english/Sider/DanishInsuranceAssociation.aspx

You'll have to let me know of the details as my house mate loves going to these events so he will probably be interested in going.

Savvy_Sue

I'd also say that you need to double and triple check that the insurance is acceptable to the Danish licensing authorities / anyone else over there you have to notify.

I can just see a company turning up to run such an event in the UK brandishing insurance documents in Danish, and the reaction of the local plod to same if you were expecting 32,000 to converge on a particular venue.

dacouch

Sue's advice is good advice.

If the insurance is ultimately insured through Lloyd's of London (It's very likely it will be) then they have the facility to issue documents in English and Danish.

It is also worth checking with the Dannish authorities as most Insurance issued in the UK will default to using UK law eg they settle claims as per UK law and any court cases are dealt with by UK courts. It would be best to check this is ok with the Dannish Authorities and if not let the Insurers know asap as it may have an impact on the premium so could save a lot of time and messing about

Horace

You will certainly need public liability insurance and employers liability to cover for your staff.

Have you thought about contacting the Musicians Union here in the UK - although if you are not a member they may not be willing to assist or give advice or the MMF (Music Managers' Forum) - this a professional body for all music managers both in the UK and internationally.