FEATURES
SECTOR FOCUS: SPECIAL EVENTS
Let the good times roll Whether it’s a nonprofit gala, a small wedding or a music festival drawing thousands of fans, special events of all sizes need proper insurance coverage
MAKING PLANS for sunnier times is a way for many Americans to get themselves through the dark, dull days of winter. Whether it’s cheering on a local sports team or seeing a
companies also face a plethora of risks and potential losses. For any special event, a comprehensive insurance policy plays a crucial role.
“Higher-hazard events can include elements like overnight camping, fireworks, amusement devices and music genres with increased security exposures” Stephanie Waldron, K&K Insurance Group legendary rock band in concert, special events are key to American life, particularly in the warmer months. Many festivals and gatherings that started off as grassroots events are now multimillion-dollar corporations with hundreds of employees. But while they enjoy the benefits of their evolution into profitable corporations and aspirational brands, these events
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The festival circuit The events space represents a good opportunity for brokers and agents looking to boost their books of business. The festival scene is going through a particularly successful period. Kicking off with South by Southwest [SXSW] in March in Austin, Texas, the festival season runs through spring and summer and into fall, and attracts millions
of attendees eager to let loose. To give the impact of these festivals some context, the 10-day SXSW festival is Austin’s biggest revenue-producing event, hosting 300,000 people and featuring 2,000-plus musical acts, movie screenings, panels and workshops. Another major event, California’s Coachella Valley Festival, attracts more than 100,000 music fans and generates an estimated $704 million in overall economic activity.
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