Sometimes, in the real world of conventions, meetings and trade shows sometimes, bad things do happen to good people. It would seem prudent then, to have all contingencies covered such as proper insurance. Whether an incident results in a potential claim for property damage or loss, or liability for physical injury, having the correct coverage for these types of occurrences is not only essential it will smooth lessen the consequences should it be your turn to have a “bad show”. Every exhibitor contract requires the exhibitor or vendor to have exhibitor insurance for the trade show, exhibition or event they are attending. The exhibitor is typically required to carry a minimum of $1,000,000 (and up to $5 million) of general liability insurance for the days of the event and name the event producer as an additional insured.
Exhibitor contracts will specify the required limits and coverage’s that the exhibiting company must carry along with provisions for hold harmless clauses protecting the event producer. This required insurance protects both the exhibitor and the event producer for claims that arise due to the exhibitors’ actions or products. In your exhibit space contract, this may be called trade show exhibitor insurance, vendor insurance, exhibitor insurance, exhibitor liability insurance, general liability insurance or a certificate of insurance.
Just a quick fly over of some of the incidents we are talking about. Total loss or damaged freight (in transit or by the General Services Contractor, concealed broken or damaged display…….you don’t want to rely on the claim payment by the offending party of pennies on the dollar) or worker injury or attendee injury in your booth space. Exhibitors often build large and complicated displays that could collapse or fall on other exhibitors. Exhibitors may bring dangerous equipment or animals into their booths. All these possibilities need to be addressed in the total scope of your insurance coverage at an event.
No matter the occurrence, proper prior preventative risk management is essential. Your firm already has some type of coverage therefore additional riders, umbrellas or increased dollar limits are fractions of the total cost of not having proper coverage when you need it.
Your insurance agency (or Risk Manager) can let you know about how your own companies current ongoing polices provide coverage or would necessitate additional underwriting of converges or umbrellas. What works for some firms will not work for others…generally speaking there are ways to incorporate Inland marine policies or event specific coverage for product, liability and physical property damage. What will not be covered are any “loss of profits” due to an occurrence which either limits or truncates your exhibiting or ability to “sell”.
Although we work show after show with nary a peep or hint of trouble, stuff does happen. People slip and fall. People are hurt by products or have allergic reactions. Displays can fall damaging other exhibitors property and occasionally hurting someone. It then makes sense that the best business practice is for everyone who exhibits at an event to be responsible for their own acts and products by having insurance in place to handle the common claims that arise.
Do you have a question about hassle free trade show exhibiting. Why not give me a call or send me an email. Mitch Isaacs, VP Marketing, firstname.lastname@example.org , Las Vegas Expo Complete Show Services, 702-248-6200