London Sporting Events - London Sports Guide, Sport Venues

Sports insurance, Leisure Insurance, Insurance for Events

Liability

The key to underwriting Liability insurance successfully in such a niche area as leisure is to have comprehensive Proposal Forms for specific trades and to develop underwriting and loss control criteria.
Public Liability: The event insurance covers the Insured against liability at law for damages and the claimant's costs in respect of:

i)Injury to any person

ii)Damage to property

This policy would cover the Insured as an organisation as well as its directors and employees.

Contingency

Under this heading, you would find the following main covers:

a. Cancellation and/or Abandonment of Events

This insurance is designed to protect the Insured for loss of expenses and commitments, and in some cases gross revenue, following the cancellation, postponement or abandonment of an event through any cause beyond the control of the Insured other than financial problems and/or lack of public support.

Typical events insured are:

o Concerts

o Sporting events

o Carnivals

o Conferences

o Theatrical productions

o Air shows and tours

b.Non-Appearance & Non-Performance.

These policies are designed primarily to cover the contingency of non-appearance of an Artist and/or Group of Artists (Athletes etc.) engaged to appear in a particular event.

c. Non-Delivery or Delay in Transit.

This covers downtime or cancellations of scheduled events caused by the delay in arrival, or failure to appear of property and equipment shipped by various means, which is actually beyond the control of the parties involved.

d. TV-Transmission Failure.

Covers the failure to provide the entire sound and/or electrical breakdown, failure or malfunctioning of power supply and/or satellite and/or transmission and/or receiving and/or projection equipment.

e. Prize Indemnity.

This would cover Hole-in-one and other similar Sporting events including setting of various records and achieving other extraordinary results. The policy could cover individuals or teams/clubs, and would typically be bought by Sponsors, Clubs and Event Organisers.

Personal Accident/Key Man insurance

This policy is a 24 hour, worldwide cover against Injury or Death resulting from Accident or Sickness. It is custom made for every kind of sport and in all cases covers professional disability i.e. if the athlete cannot continue his/her profession as an athlete. The normal medical disability can also be included.

The insurance could be seen as a workman's compensation insurance for athletes. A personal accident policy may be taken out by an athlete or by a third party, such as an agent, or an organisation, such as a club or sponsor who is in a position where a pecuniary loss will be suffered in the event of disability (permanent or temporary) of the insured person.

Pleasure Marine

This policy covers pleasure boats for material damage and third party liability. GRC have started this activity out of Lyon, and we have an underwriting agreement for France.