Events are organized on various festivals, to celebrate special occasions, weddings, youth camps, cultural programmes, business meetings etc. In fact, in the recent days, event management has become an industry in itself. Business meetings, conferences or seminars organized by institutes like ICAI (Institute of Chartered Accountants of India), IAI (Institute of Actuaries of India) or those organized by NGOs like The Art of Living are events which invite a large number of people.
Event insurance has become extremely important these days as the costs of organizing them has risen by a huge margin. From the cost of booking the farm house/banquet to decoration or catering, everything has become so expensive that any obstruction in the event, not only upsets the mood but also causes significant losses. One of the main benefits is that it has no deductibles. Wedding insurance provides protection to the insured from alcohol related accidents. It also covers accidents due to trip hazards. It also covers additional insureds, if any. Just like wedding insurance, there are insurance plans for sports events, youth camps, single events like a birthday party etc.