Industry leading, high-end Special Event Insurance
The event
liability insurance available through and endorsed by the National Alliance of Special Event Planners, Inc. is administered by R.V. Nuccio & Associates Insurance Brokers, Inc. and
is insured by the Western Heritage Insurance Company.
Special Event Insurance is event insurance for a one-time special event. Special Event
Insurance can be purchased for special events ranging from baby showers to birthdays, graduation to retirement, engagements to weddings and anniversaries. Special Event Insurance is available
to give you peace of mind. Special Event Insurance covers losses for events which occur due to unforeseen circumstances.
What is a Special Event?
A special event is defined as an event, such as a wedding, anniversary party, Bar Mitzvah, fair, carnival, exhibition, fundraising dinner or other event of short duration, usually lasting ten
days or less. Weddingsurance® is a packaged insurance product containing up to nine optional insurance coverages specifically designed to insure the financial exposures of a Wedding.
Another type of event which would qualify as a special event but be held open for more than 10 days might be a Corn Maze, Pumpkin Patch or a Christmas Tree Lot open to the public for the sale of Christmas trees. In addition to Special Event Liability insurance, other types of special Special Event Insurance would include Event Cancellation, Hole In One and Prize Indemnification insurance.
What the rental facility will most likely require:
You, the special event holder, will most likely be required to provide proof of liability insurance to the facility/venue where you have decided to hold your special event. In addition to providing
proof (in the form of a piece of paper known as a Certificate of Insurance) to the facility/venue that you have secured a liability insurance policy, you may also be required to add the facility/venue
to this required liability insurance policy as an insured. This is known as adding the facility/venue as an Additional Insured to this liability insurance policy which the facility/venue
requires you to purchase before you will be allowed to hold your special event.
The practice of a facility/venue requiring that they be named as an Additional Insured on a General Liability insurance policy by all persons or entities renting or using the site, is quite common that the required Additional Insured wording or language is generally contained within the Insurance Requirement section of the Facility Rental Agreement or Facility Use Agreement.
Function Assurance
A advent is usually defined as a function of short duration or an function that is not permanently ongoing. A function may last only one day, such as a wedding or a piano recital, or a function
may last a month or more such as a county fair or a Christmas tree sales lot. The defining factor is that a function is not set in a permanent location and a function does not continue
for an indefinite period of time such as a continuing operation or long term business. There are approximately 350 different types of functions currently defined, with the list constantly
under revision and growing.
What is Function Liability Insurance?
Function Liability Insurance is an insurance policy specifically designed to insure the legal liability exposures of a function. This type of function insurance policy is generally termed
a Commercial General Liability policy or a Comprehensive Personal Liability policy. Both of these function Liability insurance policies provide civil legal liability coverage for allegations
of bodily injury and property damage. This type of function Liability insurance is oftentimes required by the venue, or the location where the function is to take place.
Why does the Venue require Function Liability Assurance?
It is not uncommon for the function venue to require proof of Function Liability Assurance from the function holder. This proof of function Liability Assurance is usually known as a Certificate
of Assurance. This Certificate of Assurance is nothing more than a piece of paper showing that the person holding the function has purchased function Liability Assurance with the required
liability limit, which is usually $1,000,000. This assurance requirement forced upon the function holder by the venue owner/operator is an assurance risk management technique known as risk
transfer, which is a form of loss control. The venue owner/operator desires to push or share as much of the potential liability to the function holder as possible. In many cases, the venue
owner/operator will also require that the function holder name the venue as an Additional Assured on this required function Assurance policy. The Additional Assured requirement confers
certain protection to the venue owner/operator from the function policy. The owner of the venue is attempting to shield the venue annual assurance policy by placing the function assurance
policy in front.