If you are organizing musical
events or concerts, you are aware of the risks involved with such events. In
the modern world there is more to such events that soothing music. There is a
large commercial interest involved in organizing such events as you source
capital from different quarters and work on a model that offers you healthy
return and fans some entertaining music. Since they are money spinners, you
would be able to pocket a healthy reward on successful completion of an event. Despite
all the hard work and planning that you put into these events, there are many
things that can go wrong. While most musicians would take care of their interest
with instrument insurance what you as an event manager or organizer need is
performance insurance.
As the name suggests, this
insurance plan would help you in mitigating all the risks associated with a
musical performance. These are specialized plans that have been designed to
meet the needs of event organizers. It is a broad term that is used for various
types of musical insurance plans and can be called orchestra insurance when you
buy a plan that has been special designed for orchestra events. Irrespective of
whether you are organizing a small event or one of a mammoth scale, you need to
insure the events. You can choose to insure a one-off event or purchase a plan
for a series of performances that are a part of a tour.
Why You Need Performance Insurance?
· Theft
& Damage To Instruments – While all musicians insure their instruments,
as an event organizer you can offer them additional coverage with your
insurance plan. This will protect their instrument from loss and damage that
occurs while they are taking part in your event. These plans would also cover
their instruments while it is in transit during the event. In fact many
musicians stress upon this kind of coverage before playing at any event.
·
Dealing
with Uncertainties – Insurance plans offer you peace of mind and help you
in dealing with the uncertainties surrounding an event. There are a number of
things that can go wrong such as artists not turning up at the event due to
unavoidable problems or the weather turning bad leading to cancellation of the
performances. An insurance plan would help you in overcoming the financial
losses in such cases.
·
Handling
Liabilities – As an event manager you can be held liable and accountable
for everything that happens during the event. These include damage to the venue
where the performance is being held or injuries to some of the fans attending
the event. Without an insurance plan you would go bankrupt dealing with
third-party claims that are so common these days. A good insurance plan would
keep you at bay from such risks.
There are a number of companies
that offer you performance and orchestra insurance and thus you need to carefully
review their plan before you buy one. If you are having trouble in choosing the
right plan, consult an insurance expert.
No comments:
Post a Comment