The Insurance Guide for Live Event Organizers: Mitigating Risks in a Revitalized Industry

The resurgence of live shows in 2023, followed by a promising lineup of events in 2024, has rekindled the excitement for concerts, fan meets, and festivals post-pandemic. However, as the scale and energy of these events grow, so do the potential risks for organizers, attendees, and performers.

Factors such as crowd size, elaborate setups, electrical equipment, noise levels, and special effects significantly contribute to the potential risks associated with these events. Understanding and mitigating these risks is crucial for the protection of organizers and their teams.

To address these risks, event organizers should consider various types of protection tailored to their specific needs:

  1. Event Cancellation Insurance: Shields organizers from financial loss if the event is cancelled or postponed due to unforeseen circumstances such as adverse weather, natural disasters, or unexpected emergencies.

  2. Liability Insurance: Provides comprehensive protection against legal and financial consequences in case of accidents or injuries during the event, extending to third-party bodily injury or property damage claims.

  3. Equipment Insurance: Safeguards essential gear, including sound systems and lighting, from potential damage or loss during events. Comprehensive equipment insurance ensures peace of mind, allowing organizers to focus on delivering memorable experiences without the worry of unforeseen setbacks.

  4. Weather Insurance: Specifically designed for outdoor events, this coverage compensates for revenue loss caused by adverse weather conditions, providing financial protection against unpredictable elements.

  5. Non-Appearance Insurance: Coverage in case key performers or participants are unable to attend, ensuring organizers are reimbursed for incurred expenses and potential revenue loss.

  6. Personal Accident Insurance: Ensures the well-being of event staff, covering unexpected situations and offering financial protection in the event of accidents, injuries, or other liabilities during gatherings. This coverage spans from handling medical expenses to legal defence costs.

As the live events industry makes a vibrant comeback, the need for comprehensive protection becomes imperative to safeguard both small and large-scale event organizers, ensuring a safe and successful return to live entertainment.

For more information, please visit our Property & Casualty (opens a new window) page, or contact:

Princess M. Gabuya, Assistant Vice President, Head of New Business, Lockton Philippines | (opens a new window) (Philippines)

E: (opens a new window) (Asia)