Unexpected costs at conferences: how event insurance can protect you

Conferences and congresses often take months of preparation: from booking speakers to arranging the right venue and technical setup. But even with the best planning, things can still go wrong. Think of a last-minute venue cancellation, damaged rented equipment, or a technical failure that interrupts your programme. These kinds of issues can lead to high costs – and a lot of stress. Thankfully, you can prepare for them.

What can go wrong? Key risks to consider

Most unexpected costs stem from factors beyond your control: a speaker falling ill, equipment being damaged during setup, or an accident. The financial impact can be significant. Cancelling just one day can cost thousands in lost staff hours, catering, and non-refundable venue fees. Liability claims – for example, if a guest trips over a cable – can also add up quickly.

The role of event insurance

Event insurance helps you cover these kinds of risks financially. It’s a flexible policy that can be tailored to your type of event. For conferences, several types of coverage may apply depending on your programme, venue and contracts. These may include:

• Cancellation cover: reimburses costs if your event is cancelled due to force majeure.
• Equipment cover: covers damage to rented materials, including during transport to and from the venue.
• Liability cover: protects against claims from guests or suppliers in case of injury or damage.
• Accident cover: covers medical expenses in case of accidents during the event.

An event insurance policy is often relatively low in cost compared to your total budget – and could save you thousands in damages.

Get liability right

Liability is one of the biggest risks at business events. A small oversight – like a loose cable or slippery floor – can result in claims from attendees or suppliers. And what many organisers don’t realise: most business liability policies don’t cover this kind of damage during events. Fortunately, you can insure against this through the liability cover within an event insurance policy. That way, a single incident doesn’t have to turn into a major financial issue.

It’s also smart to clearly discuss with suppliers in advance who is responsible for what in case of damage, and who needs to take out which insurance. That avoids misunderstandings and coverage gaps.

Watch out for hidden costs

A good budget considers more than just catering and technical setup. Also factor in costs for permits, insurance, first aid, cancellations and backup solutions. It helps to create a risk plan with critical moments: what if something breaks down, arrives late, or gets cancelled? This gives insight into your vulnerabilities – and the value of having insurance.

No Risk thinks along with you

Insuring a conference or congress doesn’t have to be complicated. At No Risk, you can easily put together your policy online – with exactly the coverage that fits your event. Want some extra advice or have questions? We’re here to help.

Curious how we can help you manage risks at conferences? Don’t hesitate to get in touch.