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View Full Version : Special Event Insurance Question.... Monte?


Maristar210
07-13-2007, 12:27 PM
Hey guys I was hoping someone that frequents this board can help me with an insurance question for an event.

Our township www.cascadethornapple.com (its new) is holding a picnic on a portion of the river. TT member SueDV's www.wmwsa.org show skiers will be performing. We are having a fishing contest, a huge BBQ and a band will perform as well. The event is being held on private property and volunteered to us. I am one of the board members in charge of getting a one day insurance policy to cover any unforseen liability and I'm getting jacked around pretty good.

Anyone know anything about the best and of course the cheapest way to get this done? www.eventshield.com ???

TIA as usual....

Steve

jkski
07-13-2007, 12:32 PM
When I worked for an insurance company I used to get asked by independent agents all the time to do this sort of thing. The honest truth is that most insurance companies, in my experience only, are not geared toward this, so when I quoted a price, it was literally an educated/uneducated guess and the price varied based upon the relationship I had with the particular agent. Our company had a minimum policy premium, I'd start there and go up.
Moral of the story...how good is your relationship with your insurance agent, and do you know anyone that works for a insurance company?

Maristar210
07-13-2007, 12:35 PM
When I worked for an insurance company I used to get asked by independent agents all the time to do this sort of thing. The honest truth is that most insurance companies, in my experience only, are not geared toward this, so when I quoted a price, it was literally an educated/uneducated guess and the price varied based upon the relationship I had with the particular agent. Our company had a minimum policy premium, I'd start there and go up.
Moral of the story...how good is your relationship with your insurance agent, and do you know anyone that works for a insurance company?


Yes I do. But..... I am not sure he could do this.... I'll call him... Thank you !!

jkski
07-13-2007, 12:38 PM
If nothing else, it might be a good place to start. I know that I always had various avenues to place business that I wouldn't normally take, basically excess and surplus lines markets (think Lloyds of London).

Good luck, I'm sure you'll find something.

Monte
07-13-2007, 12:46 PM
Steve, Looks like you need more of a Special Event Liability type policy. There are specialty companies that do it. http://www.rvnuccio.com/special-event/special-event-overview.html That is just a suggestion, make sure they are licensed to operate in MI.



www.eventshield.com looks like it covers for example a low or no attendance event where you have a high overhead. (ie. you hire a band that costs XXg's and get rained out).

Maristar210
07-13-2007, 12:53 PM
My insurance guy just told me the property owners insurance should suffice since it is a free event.

You guys agree with that statement?

SaltwaterMC
07-13-2007, 01:11 PM
Hey guys I was hoping someone that frequents this board can help me with an insurance question for an event.

Our township www.cascadethornapple.com (its new) is holding a picnic on a portion of the river. TT member SueDV's www.wmwsa.org show skiers will be performing. We are having a fishing contest, a huge BBQ and a band will perform as well. The event is being held on private property and volunteered to us. I am one of the board members in charge of getting a one day insurance policy to cover any unforseen liability and I'm getting jacked around pretty good.

Anyone know anything about the best and of course the cheapest way to get this done? www.eventshield.com ???

TIA as usual....

Steve

Steve,

This is a company we have used when additional liability insurance was needed for a gig. In addition to our band, we have a pro audio company that uses big, heavy speaker boxes and lots of power.

http://www.csicoverage.com/entertainment

We have found that many times, the property owner wants additional liability insurance to cover any excessive risk. All I can say is everything went off without a hitch and their prices were reasonable for what they were doing.

Josh

Monte
07-13-2007, 01:17 PM
My insurance guy just told me the property owners insurance should suffice since it is a free event.

You guys agree with that statement?

That is stretching the minimal premium of a Homeowners policy liability section a LONG way. I do not agree with that statement.. I just asked another agent and he thinks the same. That is a huge risk in relation to what a homeowners, and/or any private liability type policy is set up to handle.. IE couple friends over, one falls on a hole twists his ankle probably won't sue... Bunch of strangers eh bigger risk in my opinion.. You may want to make sure your agent understands the scale of the event...


Now, I don't have a MI license, but it can't be that far off..

jkski
07-13-2007, 01:42 PM
If the homeowner has an umbrella policy in place that would be a bit better, however, like Monte said, that's a pretty big chunk to bite off for a traditional homeowners policy. I would bet that if they closely read the "exclusions" section of the policy, they would find that coverage does not exist for such a large gathering. I always found that the truth to what "IS" covered in a policy lies in what is "EXCLUDED," so look there first.
I know a lot of people who roll the dice on stuff like this and take the moto "It is better to beg forgiveness than it is to ask permission."
Disclaimer: I have been out of the biz for a few years, so I am solely going on memory and am not an expert.

Roonie's
07-13-2007, 01:55 PM
I would also want the homeowner to be aware that his policy may be covering the event if anything happens. A huge risk in my opinion and if it was me there is no way I would take it on. Let's say someone seriously or mortally hurts themself at said event and sues for more than the insurance policy covers and wins. The homeowner may be liable to cover everything. Plan for the worst case scenario and hope for the best case during event time.

Workin' 4 Toys
07-13-2007, 03:03 PM
show skiers will be performing. We are having a fishing contest, a huge BBQ and a band will perform as well.

All kidding aside.....This sounds like EXACTLY what the CSX is for. Maybe a good event to have a CSX demo......:cool:

Maristar210
07-13-2007, 03:18 PM
All kidding aside.....This sounds like EXACTLY what the CSX is for. Maybe a good event to have a CSX demo......:cool:


I agree WFT. I agree !!!!

Where is Action Water Sports???

Hey Boys!!!

Workin' 4 Toys
07-13-2007, 03:29 PM
since it is a free event.
IE couple friends over, one falls on a hole twists his ankle probably won't sue... Bunch of strangers eh bigger risk in my opinion.. You may want to make sure your agent understands the scale of the event...
This sickens me.....

Maristar210
07-13-2007, 03:35 PM
This sickens me.....


Do the world a favor....

Punch a tort lawyer in the face :rolleyes: :mad:

Workin' 4 Toys
07-13-2007, 03:42 PM
Do the world a favor....

Punch a tort lawyer in the face :rolleyes: :mad:

Sickens me I tell ya..... And I brought new life into this world..... It downright sickens me to think where we are headed.
As I was reading your first post, I thought, and WHY does it have to be this way....WHY. :mad:

phecksel
07-13-2007, 08:28 PM
My insurance guy just told me the property owners insurance should suffice since it is a free event.

You guys agree with that statement?
Have him put it in writing and provide certificate of insurance demonstrating coverage.

Workin' 4 Toys
07-13-2007, 11:36 PM
I recall, something about a "verbal contract" with insurance. Maybe thats just here.. If an agent "says" your covered, then your covered, right?

LakePirate
07-13-2007, 11:42 PM
Try and get in touch with a local festival *Link* (http://www.ifea.com/networking/members_state.asp?Letter=MI) and ask them who they use and what they do. You may also want to search around on that website to see what you can find.