Why Do Exhibitors Need Insurance?
As we start to emerge from the current worldwide economic slump many companies are ready to improve the top and bottom lines by attending conventions and trade shows across the U.S. and the world to promote their products and services. One critical item that many forget is the need for event insurance for their exhibitor booth space while attending the conventions or trade shows, Almost 100% of convention organizers, venues or convention trade show sponsors require at least a $1 Million insurance policy to cover exhibitors while attending the conventions or trade shows.
The coverage is very specialized and may not be available from just any agent is the country. Many agents do not understand this market and the relationships between the venues, organizers, and promoters. Often time the various companies involved not only want to verify that the exhibitor has insurance to cover the event while on site, but they require being an additional insured on the policy. This is not automatic on most event policies so you need to make sure that the policy you are purchasing for your exhibitor booth allows for additional insureds to be added. This often cost an additional fee since an additional certificate will have to be generated showing that the holder the convention trade show organizer, venue, or promoter are listed correctly. Do not accept the word of your agent that the policy covers additional insureds. Most organizers, venues and promoters wil not allow you to exhibit unless they have their own certificate of insurance showing they are listed as an additional insured. So to keep you from arriving at the convention not prepared make sure this is addressed before arriving at the show.
Exhibitor insurance may seem like a minor issue, but the organizers, venues and promoters take it very seriously. A simple trip and fall caused by an exhibitors actions if this policy is not in place can cost the organizers, venues and promoters $10's of thousands of dollars. Paying particular attention to you housekeeping issues around your booth will protect everyone involved including participants at the show. Make sure that you do not have trip and fall hazards that could cause a third party to suffer an accident that can be attributed to you. Keep all of your items boxes etc. out of the walkway around your booth area. Make sure that your exhibits is well constructed and safe. Exposed electrical cords should also be taped to the floor so they are not loose and could cause someone to trip.
Remember these few recommendations so your company can concentrate on sales and make the shows you attend enjoyable and profitable.