A special event is usually defined as an event of short duration or an event that is not permanently ongoing. Such an event may last only one day, such as a concert, auto show or a class reunion and picnic, or an event may last a month or more such as a county fair or a Christmas tree sales lot. The defining factor is that a special event is not set in a permanent location and does not continue for an indefinite period of time such as a continuing operation or long term business. Event Insurance is specifically designed to provide event liability insurance protection for all types of special events.
What Other Events Are Special Events?
There are hundreds of celebrations which are considered special events, and RVNA Event Insurance is specifically designed to insure the liability exposure for events. These celebrations include events such as a carnival, concert, play, exhibition, fundraising dinner, vendor booth, convention or any other type of a function lasting for a short time, usually 30 days or less.
Another type of party which would qualify as a special event but would be held open for more than 10 days might be a Corn Maze or Pumpkin Patch open to the public. In addition, other types of special event insurance would include Event Cancellation and Weather Insurance for example. For Vendors we also offer an annual vendor policy.
The Event Insurance is administered exclusively by R.V. Nuccio & Associates Insurance Brokers, Inc. through specialeventinsurance.com. It is available in nationwide. R.V. Nuccio & Associates, Inc. has been insuring events for over 35 years.
Venue Insurance Requirements
You, the special event holder, will most likely be required to provide proof of liability insurance to the facility/venue where you have decided to hold your special event. In addition to providing proof (in the form of a piece of paper known as a Certificate of Insurance) to the facility/venue that you have secured a valid policy, you may also be required to add the facility/venue to this required liability policy as an insured. This is known as adding the facility/venue as an Additional Insured to this liability policy which the facility/venue requires you to purchase before you will be allowed to hold your special event.
The practice of a facility/venue requiring that they be named as an Additional Insured on a General Liability policy by all persons or entities renting or using the site, is quite common that the required Additional Insured wording or language is generally contained within the Insurance Requirement section of the Facility Rental Agreement or Facility Use Agreement.
More about this product
The product is designed to insure the legal liability exposures of a special event. This type of liability coverage is generally termed Commercial General Liability coverage or Comprehensive Personal Liability coverage. Both of these types of coverage provide civil legal liability coverage for allegations of bodily injury and property damage. This type of product is oftentimes required by the venue, or the location where the function is to take place. Why does the Venue require a valid policy? It is not uncommon for the venue or facility to require proof of a valid policy from the promoter or event holder. This proof is usually known as a “Certificate of Insurance”. This certificate is nothing more than a piece of paper showing that the person holding the event has purchased the product with the required liability limit, as is specified within the rental contract, which is usually $1,000,000 per occurrence and $2,000,000 in the aggregate. In addition, the event holder may also be required by the venue owner to name the venue as an “Additional Insured”. This requirement is a risk management technique known as "risk transfer", which is a form of loss control and a sound business practice on the part of the venue owner.