There’s more to live events than just preventing live bloopers.

From music concerts to big sporting events, the behind-the-scenes operational necessities required to make them happen are complex when you take a peek behind the curtain. The bigger the scale and the more bells and whistles the bigger the scope of risk. Millions of dollars can be at stake and there’s no retaping, time delay or do-overs.

Live event risk management is a lot more complicated than just calling an insurance broker. Getting the adequate coverage and in appropriate amounts requires a thorough evaluation of the blends of exposures across various risk types that the event presents. 

For the big live events, that includes:

  • The venue itself,
  • The performers and performance guarantees,
  • All possible mechanics, like pyro, lasers, flying, stunts,
  • Volunteer participation,
  • Security, including crowd safety and implications for terrorism,
  • Parking,
  • Equipment values,
  • Aerial exposures (like helicopter cameras or drones),
  • Vendors and subcontractors, and
  • Travel and weather-related exposures, among others.

Considerations run the gamut. For vendors and subcontractors, for example, you need to look at what they are doing and plan out how the risk can be shared with them contractually. Another area for attention can be the need to secure licenses and releases for the use and broadcast of music and likenesses. 

High-risk, live events can be challenging to insure and that’s why it’s important to know all the angles that need to be evaluated when it comes to risk exposures. Just as critical, though, is the need for event producers to establish a strong relationship with their insurance broker. It takes a free flow of information to ensure the most thorough preparation in protecting against potential liabilities and their extent, and establishing where the responsibilities will lie.

The fact is that getting insurance is the smallest part of the equation. Anyone can put a policy on the table and wish you “good luck.” Insuring large scale live events takes a great deal of heavy lifting: Assessing the risk, shepherding the live event risk management process from beginning to end, reviewing contracts and certificates and coordinating with legal counsel, risk services and insurance carrier loss control. 

That’s how your HUB entertainment broker gets the right insurance policies so you can get on with pleasing the crowd!