Industry News

The Rugby World Cup and Events and Entertainment insurance

ITOO proudly hosted its Experiential Training for partners and brokers.

“We have invested in on-going training with the aim of giving our broker partners a better understanding and technical expertise on product knowledge. Arming them with the relevant product training, puts them in a better position to advise and serve their clients”, says Melita Thurling, head of General Liability and Events and Entertainment.

Tied in with the rugby theme, the two-day event brought in Entertainment and Events product champions, Melita and Janine Lamprecht who shared their knowledge on the possible insurances around events like the Rugby World Cup.

This gave an opportunity for brokers to engage in the learning experience and to link theory to practice.

Janine gave a well-rounded presentation on Events Liability, while Melita presented on Contingency covers.

To demonstrate how an event, can potentially end up in disaster, even with the most detailed planning, Janine took the brokers back to some events that resulted in catastrophic claims and caused severe financial consequences as a result of those claims. Such as the Kaizer Chiefs vs Pirates soccer match that took place at the Ellis Park Stadium on 11 April 2001, causing a stampede that resulted in 43 deaths. The government responded by passing the Safety at Sports and Recreational Events Act of 2010, which makes it a legal requirement to have event liability cover in place for certain events.

“Having cover is not a “nice to have” but a Legal Requirement,” says Janine.

Speaking on Contingency, Melita took the brokers through some of the covers that can help event organisers to plan for the unexpected, which include:

  • Event Cancellation and Non Appearance
  • Political Violence
  • Prize Indemnity and Contract Bonus

And enabled the brokers to experience pure probability risks like envelope picks, and risks based on statistics and skill such as score prediction.

Even a well organised event has the possibility of a situation that could ruin the occasion should anything untoward occur.  iTOO offers bespoke insurance solutions for event liability, cancellation, contract bonuses, prize insurance and non-appearance of key attendees, to ensure that event organisers, sponsors and venue owners are covered for all the possible perils.

After the training, the brokers, and the iTOO team enjoyed the action-packed rugby game and braai. The game brought a thrilling climax when the Springboks triumphed against Italy on 4 October and again on 8 October versus Canada.

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