Special Event Insurance for the Live Entertainment Industry

Live entertainment events come with a litany of risks to manage. Cancellation, non-appearance and weather disruptions can all play havoc with an event, leaving organisers, venue owners, artists and promoters to pick up the pieces.

Our team will identify all the risks associated with a specific event and give you the expert help to design a risk management strategy and an insurance programme that provides the necessary protection.

We understand that unexpected incidents not only negatively affect an entertainment company’s balance sheet, but also its brand and reputation. Our team continuously expands and leverages our considerable expertise to preserve and protect your bottom line.

WHAT WE DO

Live entertainment

The entertainment industry faces growing risks and exposures. Extreme weather, power failure, public liability and terrorism reflect some of the ongoing challenges and uncertainty threatening the success of events.

We can help companies manage these risks by providing bespoke entertainment insurance and risk management solutions.

We have experience working with event organisers, venue owners, artists, agents, tour managers, promoters, content producers, retailers and sponsors.

Live entertainment

We also have experience servicing clients in the following industries:

  • Live music and events
  • Conferences and exhibitions
  • Council and community
  • Stage and theatre
  • Broadcast and media
  • Prize and promotions

FAQs

Various different events around the world occur on a daily basis. Many of which wouldn’t take place without the main performers. Non-Appearance insurance can protect you for any financial loss.

Whether you are the performer, promoter, agent or venue, you have the ability to cover your costs and expenses or gross revenue if your event is cancelled, abandoned, postponed, interrupted, curtailed or relocated if you or your performer is unable to fulfil the obligations. Extensions such as simultaneous non-appearance whereby a percentage of a larger group, for example Orchestras, sport teams choirs etc. are unable to fulfil obligations can be added if required.

Weather impacts nearly all businesses either directly or indirectly, but the vast majority of companies just accept this and self-manage the risks or only insure against catastrophe business interruption scenarios. Most insurance buyers don’t realise there are opportunities to use parametric insurance to benefit from the unpredictable nature of weather – some of these include:

  • Balance sheet protection (revenue smoothing)
  • Business interruption e.g. construction and marine
  • Weather promotions
  • TV/Film shoots
  • Pluvious cover
  • Stabilising income

Despite the most meticulous organisation, circumstances may arise which could stop your event from proceeding as planned. This is likely to have a significant effect on your financial situation and you may need to recover your financial loss or outlay on costs and expenses through event cancellation insurance. If it is possible for the event to proceed, perhaps at an alternative location or at a later date, this insurance will meet the reasonable additional expenses incurred in pursuit of this being achieved.

You may also find you are unable to vacate the premises due to an unforeseeable event such as inability to access the venue. The delay in leaving a venue often attracts a financial penalty, which can be covered. In addition to your own costs you also need to pay particular attention to potential financial loss which may arise out of contractual relationships with sponsors or through loss of costs, expenses and guarantees which are not recoverable such as commitments to hotels, venues, caterers or other service providers.

WHY JLT

  • We are a team who will respond quickly and pride ourselves on being available to you when you need us most. We know this is crucial to you and your businesses success and will do everything we can to deliver at the point required
  • Our experience means there are very few problems we haven’t seen before and our vast knowledge helps us work through even the most complex of circumstances to get a result that is right for you
  • The market wants to work with us as we provide clarity on complex risk. We enable underwriters the ability to do their best work for our clients. Our determination to push the market forward as your industry evolves. We prefer to work with markets that agree to our disclosure language
  • We work in partnership with you and our people have an acute understanding of your sector. We will listen and understand the challenges specific to your business. We will not always presume to know the answer and will work with you to gather insights to help us tailor a suitable answer for you
  • We involve our dedicated claims management experts at the outset for their insights when designing insurance programmes. We use their expertise to avoid any ambiguities in the wording and we work with markets that are claims responsive.

Case Studies

Live entertainment

Event cancellation

A well-known band cancelled and rescheduled their upcoming tour due to an illness. The promoter had declared figures for the show and they were much lower than the estimated loss. On notification of the claim, underwriters noticed the difference in the figures and highlighted that there were potential issues. Our entertainment team had foreseen this and had amended the automatic cover, to say detail would be subject to change post declaration. This automatic cover ensured that indemnity was agreed by insurers and the claim was paid in full without any further issues.

Live entertainment

Non-appearance cover

An independent promoter secured a bid for a well-known male artist with a chequered history. The individual had a renowned bad reputation. A standard cancellation or non-appearance policy would not respond to non-appearance of this particular artist due his past behaviour. However, our entertainment team was able to offer the client beyond the assured control cover that would respond in the case that the artist’s previous behaviour repeated itself resulting in another non-appearance.

Insurance Solutions

We offer expertise in the following insurance product lines:

When conducting your activities you are deemed to hold a duty of care to third parties and employees. Any alleged breach of that duty may result in a claim for damages. We can provide a liability insurance product for clients in the live entertainment sector to protect you against your potential legal liability.

Event equipment insurance policies protect against any financial risks from the consequence of theft, breakdown of equipment or accidental damage.

A broadcast transmission failure could arise and stop your event from proceeding as planned. This is likely to have significant effect on your financial situation and you may need to recover your financial loss.

We can arrange solutions for potential losses if the conditions are deemed too dangerous and/or they are deemed unreasonable photographic conditions.

This product is designed to protect your budget from unseen circumstances which can cause unexpected delays or even the cancellation of an event.

As a condition for attending an event, organisers will often require participants to possess adequate travel medical expenses insurance.

We can provide a travel insurance policy which incorporates many different aspects, for example emergency medical expenses.

Kidnap and ransom protects against the risk of kidnap for ransom, extortion, wrongful detention and hijack.

Cyber insurance has been developed to address the first and third-party risks associated with e-business, the internet, computer networks and confidential information. Whilst the historical focus of these policies has been centred on potential hacking risks, the risks have evolved and insurance can provide cover for these threats including malicious acts, system malfunction, and negligent acts of employees and data theft.

Crime insurance policies are designed to provide financial protection to the company balance sheet from the consequences of employee dishonesty and third party fraud.

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