London Conference Venues’ Insurance Guide
What is conference insurance? – How does it impact London Conference Venues?
Conference insurance is a type of event insurance that protects conference organisers and potentially London conference venues from financial losses that may occur due to unforeseen circumstances, such as cancellation or postponement of the event, damage to property, or injury to attendees.
What does the insurance cover?
- Cancellation insurance: This type of insurance can cover a variety of expenses, such as:
- Refunds to attendees
- Cancellation of travel arrangements
- Loss of revenue from sponsorships and exhibitor fees
- Cost of rescheduling the conference
Recently many organisers will have been looking for insurance to cover against railstrikes and covid. Sadly neither are covered! typically insurers only cover what they consider to be natural disasters.
- Public liability: This covers the organizer for any legal claims arising from injuries or damage to third parties caused by the conference.
- Employers’ liability: This covers the organizer for any legal claims arising from injuries or damage to employees caused by the conference
- Property damage: This covers the organizer for any damage to property that occurs at the conference, such as damage to the venue or equipment.
- Medical expenses: This covers the cost of medical expenses for attendees who are injured at the conference.
- Personal accident: This covers the cost of medical expenses for organizers or employees who are injured at the conference.
Cost of Insuring your Conference:
Costs vary enormously depending on things like cancellation history, in most cases we would expect the cost to be approx. 10% of the events turnover.
Some things to consider when purchasing insurance:
Always check what is and is not included when purchasing cover, as you can imagine there are all types of policy exclusions and limitations, and these can vary with each provider.
You should not cut corners when choosing the right provider; as with many things in life, if it’s very cheap it is possibly too good to be true
Always be sure to read through the T&Cs carefully.
Here at Cavendish Venues (london conference venues) we are committed to providing the finest customer service at all times. Part of this is communicating with our clients, letting them know things like the likely cost of insurance. If you are looking for conference or meeting space in Central London (west end and city) get in touch now: 0207 706 7700 or firstname.lastname@example.org
At Cavendish Venues we are committed to exceeding your expectations, and with over 93% repeat business we know we're doing something right!