Entertainment Venues face slightly different risks from other commercial businesses.
– Property can often be difficult to quantify, but needs to be insured on the correct basis in order to be fully replaced in the event of an incident
– Technical equipment can be hired/loaned in, and this is not always insured under normal policies
– How would the business be affected if an alcohol licence was revoked? This can be insured against, but is not always included, so needs to be requested
– You may hold a variety of events, with performers and sub-contract companies working at your premises, and need to ensure that they are either adequately insured, or at least do not invalidate your own cover
– What would happen if there was a murder in the premises opposite and the policy cordoned your venue off? How would your income be affected if you were closed for the whole weekend? What if the murder was particularly gruesome and it put people off from the immediate area. These risks can be insured against within specialist policies
– As an attraction, you will control numbers of people. Liability needs to be appropriate for the numbers of people who could attend your venue, and needs to extend to include how you would deal with them in the event of a terrorist incident (often excluded under standard commercial policies)