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Special event insurance often covers associated costs if an event unexpectedly needs to be canceled. Typically, the type of events covered include birthday and anniversary parties, baby showers ...
Liability insurance (also called third-party insurance) is a part of the general insurance system of risk financing to protect the purchaser (the "insured") from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy.
Business interruption insurance provides up to 12 months’ income for covered businesses when they are forced to shut down operations because of a covered property event. The liability portion of a business owner's policy offers coverage for third parties who suffer property damage , advertising injury or personal injury on a covered business ...
Events present substantial liability risk to organizers and venues. Consequently, most venues require the organizers to obtain blanket or event-specific general liability insurance of an amount not less than $1,000,000 per occurrence and $2,000,000 aggregate, which is the industry standard. [4] [5]
Between 1984 and 1986, general liability insurance premiums increased 200 percent or more for one out of four charitable nonprofit organizations in California. During that same period, insurance companies canceled or refused to renew the general liability policies of one out of five California charitable nonprofits.
An owner controlled insurance program (OCIP) is an insurance policy held by a property owner during the construction or renovation of a property, which is typically designed to cover virtually all liability and loss arising from the construction project (subject to the usual exclusions).
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