8.03 Discuss the types of insurance necessary for the sports and entertainment industry.

Types of Liability Insurance

General liability insuranceGeneral liability insurance: Provides broad coverage against

claims of negligence and Inappropriate action resulting in

bodily harm or damage to personal property

Types of Liability Insurance, cont..

Automobile liability insuranceAutomobile liability insurance Provides compensation to

individuals injured by automobiles used in an event

For example, if an event organizer is driving a golf cart and hits a spectator, the organization is covered

Board of Directors Liability Board of Directors Liability InsuranceInsurance

Protects volunteer board members from personal liability

For example, if an event goes bankrupt, event managers or the board cannot be held personally liable or be directly sued

Types of Liability Insurance, cont..

Comprehensive General LiabilityComprehensive General LiabilityInsurance Insurance Packaged policy that includes fire,

theft and injury Exclusions to this type of coverage

may include pyrotechnics (fireworks), aerial activities, participant activities, and other activities which might be deemed high-risk

Types of Liability Insurance, cont..

Types of Miscellaneous Insurance

1.1. Event cancellation Event cancellation insuranceinsurance

Provides coverage for cancellation of an event due to circumstances beyond event coordinator’s control

2.2. Inclement weatherInclement weather Provides coverage for

cancellation of an event due to inclement weather or natural risk, rain, lightning, hurricane, or tornado

Types of Miscellaneous Insurance, cont..

3.3. Broadcast transmission Broadcast transmission interruptioninterruption

Provides coverage due to an interruption of the radio or television broadcast of an event

Types of Miscellaneous Insurance, cont..

4.4. Non-appearance or “no-Non-appearance or “no-show”show”

Provides coverage if an athlete or entertainer fails to appear at an event due to accident or illness

Types of Miscellaneous Insurance, cont..

5.5. Prize indemnityPrize indemnity Provides coverage when

participant wins promotional contest

Can also protect company against loss of income due to prize fraud

Types of Miscellaneous Insurance, cont..

6.6. Accidental death and Accidental death and dismembermentdismemberment

Provides coverage if an event participant suffers loss of life or limb

Types of Miscellaneous Insurance, cont..

7.7. Temporary disabilityTemporary disability Provides coverage for an

athlete or entertainer in the event the he/she suffers an injury or illness that temporarily keeps them from working

Types of Miscellaneous Insurance, cont..

8.8. Permanent disability Permanent disability Provides coverage for an

athlete or entertainer in the event that they suffer an injury or illness that permanently keeps them from working

Types of Miscellaneous Insurance, cont..

9.9. Image protection Image protection Provides coverage for

sponsor in event that an athlete’s or entertainer’s actions result in negative publicity for the company

Types of Miscellaneous Insurance, cont..

10.10.PropertyProperty Provides coverage for damage

to buildings and production sets Property insurance will also

provide coverage for theft or damage to personal property and props

Types of Miscellaneous Insurance, cont..

11.11.Producer’s errors and Producer’s errors and omissions liability omissions liability insurance insurance

Provides coverage for copyright infringement, libel, and plagiarism

Types of Miscellaneous Insurance, cont..

12.12.Animal mortality Animal mortality provides coverage in the

event that an animal dies while being used on production set

Types of Miscellaneous Insurance, cont..

13.13.Workman’s compensationWorkman’s compensation Provides reimbursement of

medical expenses for workers injured on the job

Types of Miscellaneous Insurance, cont..