Julia Rutherford Silvers, CSEP

Certified Special Events Professional

Event Management Authority

Like angels and elephants dancing on the head of a pin, our dreams and responsibilities may have no limits, but must be balanced according to the music of the moment.

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Insurance Management

27 November 2013

The ascertaining of liability exposures and contractual requirements, sourcing suitable providers, and acquiring the proper insurance policies in order to maintain suitable loss prevention coverage and risk financing for the event project.

 

Major Functions

Performance Elements

Exposures and Requirements

Examine risk assessment to determine exposures

Determine event  property that may be lost, damaged, or stolen

Identify contractual insurance coverage requirements

Identify statutory insurance coverage requirements

Sourcing Providers

Research the types and availability of insurance providers

Assess provider qualifications and experience in the context of events

Select an insurance professional to advise on the event project’s needs

Ensure needs and responsibilities for both parties are clearly identified

Selecting Proper Coverage

Recognize the capabilities and limitations of insurance coverage

Specify the types of coverage to be procured

Identify limits or exclusions that require increased coverage

Analyze quotations and procure the appropriate insurance coverage

Contractual Transfer

Determine liabilities and potential losses to be assigned to third parties

Specify being named as additionally or co-insured as appropriate

Require and collect certificates of insurance from all vendors

Policy Administration

Understand policy terminology, conditions, and obligations

Maintain a file of insurance policies and ensure copies safely stored

Establish a schedule to ensure coverage does not lapse

Specify and comply with procedures for filing insurance claims

 


 

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