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

Types of Liability Insurance General liability insurance General 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 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 Insurance 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 Liability 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. Event cancellation insurance Provides coverage for cancellation of an event due to circumstances beyond event coordinator’s control

2. Inclement 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. Broadcast transmission interruption Provides coverage due to an interruption of the radio or television broadcast of an event Types of Miscellaneous Insurance, cont..

4. Non-appearance or “no-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. Prize 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. Accidental death and dismemberment Provides coverage if an event participant suffers loss of life or limb Types of Miscellaneous Insurance, cont..

7. Temporary 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. 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. 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. Property 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. Producer’s errors and omissions liability insurance Provides coverage for copyright infringement, libel, and plagiarism Types of Miscellaneous Insurance, cont..

12. Animal mortality provides coverage in the event that an animal dies while being used on production set Types of Miscellaneous Insurance, cont..

13. Workman’s compensation Provides reimbursement of medical expenses for workers injured on the job Types of Miscellaneous Insurance, cont..