Event Insurance

Event Insurance

Sports, recreational, religious, cultural, exhibition, organisational events or similar events held at stadiums, venues or along a route are governed by Safety at Sports and Recreational Act, 2010.

The act stipulates that it is the responsibility of the controlling body, an event organiser, a stadium or venue owner to put in place measures as may be prescribed to ensure the physical safety and security of persons and their property at an event.

In addition the act requires you to have Public Liability Insurance. It further states that the insurance must be sourced from a person registered or auth

orised under section 7 of the Short-term Insurance Act, 1998 (Act No. 45 53 of 1998) or section 7 of the Long-term Insurance Act, 1998 (Act No. 52 of 1998).

Without the above cover your company and its directors will be held liable for any claims.

If your event organiser does not have the cover, you need to be asking yourself:

“Do they really know what they are doing?”

“Are they protecting me as their client and my clients that are attending the event?”

Regardless of the event size, a claim can start in the thousands of Rands and go into the millions. Are you willing to take the risk? Can you or your company afford the risk?

As the Act stipulates it is not adequate to have cove

r but it also needs to be issued by an accredited insurance provider. All businesses are looking to reduce budgets including event insurance, do not cut down on costs at the risk of losing your business and your home.

Written by: Guido Ceruti, Pure Grit CFO

 

Comments are closed.