What insurance do events companies need?

Each event comes with unique risks, from corporate conferences to music festivals. 

Weather disruptions, venue mishaps, supplier failures, and unforeseen cancellations are just a few pitfalls that could derail even the most meticulously planned occasions.

While recognising and mitigating these risks is paramount, insurance can provide financial protection and peace of mind.

It could shield organisers from the costs associated with unforeseen circumstances.

Whether it’s property damage, liability claims or event cancellation, the right insurance coverage can spell the difference between a minor setback and a catastrophic loss.

Why liability insurance is essential for events 

Liability insurance is one of the main insurances that event companies rely on. This protects organisers from legal and financial liabilities arising from accidents or injuries that happen during the event.

From slips and falls to equipment malfunctions, liability insurance may provide protection against lawsuits and compensation claims, allowing organisers to focus on delivering memorable experiences.

Event cancellation insurance is another essential part of risk management for these businesses. Even after months of effort planning an event, unforeseen circumstances like extreme weather, natural disasters or unexpected vendor cancellations can derail an event at the last minute.

Event cancellation insurance may reimburse organisers for expenses and revenue and minimise the financial fallout of a cancelled or postponed event.

“Event organisers often take out policies for specific events. If they run five or six events a year on one property, the policy might cover all the events,” says Michael White, Broker Technical Manager.

“Liability insurance may provide protection against lawsuits and compensation claims allowing organisers to focus on delivering memorable experiences”

Property insurance

Property insurance can help safeguard event equipment and venues against loss from damage, fire, theft, vandalism, or other perils.

Whether it’s sound systems, lighting fixtures, tents, or staging equipment, these assets represent significant investments for event companies, and protecting them with the right insurance coverage is essential for business continuity.

More broadly, many events are weather-reliant, and insurance may provide cover for rain, high winds and electrical storms.

“The cover is typically triggered when the volume of rain over a period reaches a certain level. It’s common for community events to take out this cover,” says White.

Bushfire is another common peril event organisers face, whose season coincides with the busy summer period when many events are held. This often results in events being cancelled, and insurance may compensate organisations for this situation.

Do you need cyber insurance?

Cyber insurance has emerged as a critical consideration for event organisers as the digital landscape evolves.

With online ticketing systems, attendee databases, and payment processing platforms becoming integral parts of event operations, the risk of cyber threats and data breaches looms large.

Cyber insurance provides coverage against the financial repercussions of data breaches, hacking attempts, and other cyber incidents, safeguarding sensitive information and a business’s reputation.

The importance of mitigating risk

The right insurance plays a pivotal role in building trust and credibility with clients, partners, and stakeholders. By demonstrating a commitment to risk management and contingency planning, event companies instil confidence in their ability to deliver successful outcomes regardless of the challenges they may face.

Ultimately, the insurance event companies need is not just a safety net; it’s a strategic imperative for sustainable success.

Do you have the right cover?

By investing in comprehensive insurance coverage, event companies can navigate uncertainties with confidence, ensuring that their endeavours thrive in an ever-changing landscape. Talk to your broker or adviser today to find out more.


Important notice – Steadfast Group Limited ABN 98 073 659 677

This general information does not take into account your specific objectives, financial situation or needs. It is also not financial advice, nor complete, so please discuss the full details with your insurance broker or adviser as to whether these types of insurance are appropriate for you. Deductibles, exclusions and limits apply. These insurances are issued by various insurers and can differ.


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