Volcanic ash casts cloud over planned events

Specialist event insurer Hiscox today issued the following tips for organisers worried by the recent travel disruption due to volcanic ash:

1. Notify your insurer immediately if you think you could be affected.  A good insurer can help you take the necessary actions to keep the event going. Quick and decisive action could make all the difference.

2. Check your policy to see if you are covered for emergency expenditure. You may be able to claim for these costs without having prior clearance from your insurer.

3. Record keeping is key, both of expenses incurred relating to the event and gross revenue, if insured. Having these details to hand will help should you need to make a claim.

Planning future events?

4. Organisers of events big and small should have a robust crisis management plan in place. A written plan which details alternative arrangements should the unexpected occur will assist your insurer when assessing the risk and may speed up the process of securing cover for your event.

5. Make sure you have clear contracts (with venues and suppliers, for example) which detail under what circumstances you as the organiser may be able to claim refunds or would be obliged to offer refunds. This will enable insurers to agree claims payments more quickly.

6. Buy your cover early – as soon as you’ve spent any money on your event. Buying early will cover you for a longer period of time, often at a lower cost than insuring closer to the event date. And if you wait too long to buy your insurance, you may not get all the protection you want.

Elizabeth Seeger, underwriter, at specialist event insurer, Hiscox said:

“We are seeing that some customers are experiencing disruption with international delegates and exhibitors not being able to fly in to attend their events. On the ground level at the event venue, all is working fine but it’s getting people in that’s difficult.

Events may be entirely cancelled if there are key speakers or performers who cannot attend.

The chaos caused by the volcanic ash drifting over the  UK illustrates how the unexpected can bring months of event planning to a sudden halt.”

Tags: event insurerance, Event Magazine, Hiscox event insurance

Category: Advice for Event Management, Event Insurance