Auto & General has unveiled a bespoke events liability insurance product, designed specifically for professionals in the event sector, including managers, organisers, exhibitors and sponsors.
Storm Mhlambi, the Head of Specialist Liability at Auto & General, outlined the unique aspects of the Auto & General Events Liability insurance: “Our commitment to outstanding service differentiates our insurance offering. We ensure that financial advisers can effortlessly obtain quotes and finalise policies for their clients via a simple phone call or email, all within minutes. This efficiency is vital for clients who require immediate insurance confirmation.”
Features of the Auto & General Events Liability Insurance
A notable feature of the policy is the insurer’s direct engagement with third parties during the claims process, on behalf of both the client and their financial adviser. This is managed by a dedicated claims consultant who provides regular updates on the status of the claim. The creation of this insurance product was prompted by feedback from Auto & General’s SME clients in the events industry, reflecting the sector’s expansion.
The success of the recent Auto & General X-Triathlon, which attracted 800 participants and over 1 000 spectators in Steyn city, highlights the vibrant nature of South Africa’s events industry.
Mhlambi also pointed out the legal necessity for Event Liability insurance as mandated by the Safety at Sports and Recreational Events Act of 2010. She noted, “Legally, events such as the Auto & General X-Tri cannot proceed without Event Liability insurance. Despite thorough planning, events are susceptible to various risks, including damage to the venue or injuries to attendees. These incidents can lead to lawsuits, potentially damaging the reputation or finances of the event organiser.”
The events liability insurance is crafted to mitigate the liability risks and financial losses that may arise from third-party property damage or injuries at events.
Auto & General’s offering encompasses both short-term policies for single events and annual policies covering all events over the course of a year. Coverage limits vary from R1 million to R100 million, with extensions worth R500 000 included as standard. For additional premiums, clients have the option to enhance their coverage with extensions, such as for damage to leased property, collapse of temporary structures, emergency medical costs, wrongful arrest, defamation, and legal defence expenses.
