With Hong Kong’s event scene roaring back to life, and myriad must-see and must-attend activities happening throughout the remainder of 2024, it feels like the upcoming Hong Kong Rugby 7’s is just the start for a year filled with excitement.

If you are planning on of these events, however, the news indicating Hong Kong may be experiencing a major summer of typhoons will be concerning. While events can be cancelled or postponed for a number of reasons, event organizers, production companies, and management teams have options to ensure that even in a worst-case scenario all that time, effort, and money has not gone to waste. One of these options is Event Insurance.

What is Event Insurance?

Event insurance is the catch-all term for insurance designed specifically to cover the financial and liability risks associated with holding an event, of any kind. There are many types of protection that can be bundled into a Hong Kong Event Insurance policy, for different types of events.

Whether you are obtaining a booth at an upcoming exhibition, fair or festival, or you are producing your own prestige event, like a concert or high-profile sporting competition, or even if you are attempting to protect your wedding, event insurance offers flexible and bespoke protection against a range of potential risks.

Liability Insurance for Events

The first type of protection that is commonly bundled in Event Insurance products is going to be Public Liability protection. This will likely be required by most venues as a condition of using the space, and will normally form part of the lease requirements.

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concert event hong kong
Concert (© Gilaxia)

Event Liability insurance covers your risk, as the party responsible for any given event, against financial repercussions due to damages suffered by third parties.

For example: if you are holding a concert and stage lighting falls and hits a attendee on the head, you would be financially responsible for compensating that individual against the injuries they have suffered.

With an event liability insurance policy, you are protected against financial losses in this situation, with coverage starting at HK$10,000,000 per claim, and the option to increase the protection if the event necessitates it.

Event Liability insurance will protect you against:

  • Accidental Damage to Property
  • Accidental bodily injury to any person
  • Accidental wrongful detention or obstruction
  • Accidental trespass or nuisance

Event Cancellation Insurance

As one of the biggest concerns for any Event is that it will be cancelled or postponed, making sure that you are covered against losses due to factors beyond your control is going to be important for many event producers.

hong kong rugby sevens public
Hong Kong Rugby Sevens (© HKCR)

Event Cancellation Insurance is designed to protect you against irrecoverable expenses due to the organization of an event if that event is cancelled for any reason not specifically excluded by the policy. Typical exclusions include things like Bankruptcy or Insolvency of the production company or its vendors, or terrorist attacks, so the coverage is actually extremely broad.

 It should be noted that, for many event insurance plans, if your event is being held indoors, you will automatically receive weather cancellation protection – outdoor events will normally need to apply, and pay for this benefit separately. But, with a weather cancellation benefit you are protected against any extreme weather events which force the abandonment of your activity.

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For example:You are organizing an outdoor concert. You read the news about heightened Typhoon and weather activity this summer, and purchased an event cancellation insurance plan with weather cancellation coverage. On the morning of your event, it is raining, and by 3pm a black rainstorm warning is announced and expected to remain in force for the rest of the day. With your coverage, you would be protected from the financial consequences of having to cancel your concert in light of audience safety.

Non-appearance Insurance

Making sure all the things you need for your event are where they need to be is a critical component of holding a great function, but as always, the human factor can be unreliable and if your main talent doesn’t show up, you’re probably not going to be able to move forward with the occasion. For this reason, it is possible to obtain Non-appearance Insurance benefits on your event policy.

wedding event hong kong
Wedding (© SatawatFoto)

Opting to purchase additional non-appearance protection ensures that you are able to recover your costs if the keynote speaker, and star attraction of your conference, comes down with a sudden illness that prevents them from travelling, or if the sports star playing an upcoming match is unable to perform due to a recent injury you are able to refund tickets to disappointed fans.

Non-appearance could even be purchased for a bride and groom as a benefit on a wedding insurance policy – if the person matters, and they are not able to attend, you won’t be losing all the money in place for the function.

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About CCW Global

No two events will ever be the same, and a comedy show doesn’t have the same set of requirements as a multi-day sports tournament. As such, no two event insurance plans will ever be the same, because you are in control of building the perfect policy in line with your needs and budget.

ccw insurance brokers logo

Whether you’re looking to specifically protect your photographic and videography equipment, or you’re worried about damage to the sets you’re renting, there is an event insurance solution for you. For more information Contact an Expert Hong Kong Insurance Broker at CCW Global. With a no-obligation, no-cost consultation process, our independent advisors will work with you to design the most robust coverage possible.

Header Image Credit: SatawatFoto, Gilaxia, HKCR

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