Insurance experts in the entertainment industry

We’re passionate about keeping pace with the ever-evolving Events and Entertainment industry. Our dedicated team of experts stays ahead of the curve, continuously monitoring and understanding the latest trends. In an industry marked by dynamism, insurance must adapt in real-time.

The entertainment evolution: The events and entertainment industry is at the forefront of innovation and creativity. From new technologies like VR and AI being used in concerts to sustainability initiatives at the forefront of sporting events. It’s where imagination becomes reality, and experiences are crafted to captivate audiences. This dynamic industry fuels growth, but it also exposes stakeholders to uncertainties and potential risks.

Safeguarding client success: Rising costs of events and insurance limits have become key challenges recently. Event organisers, artists, promoters, venues, sporting teams, broadcasters and more, all face the challenge of securing their operations against unexpected disruptions.

Event & entertainment industry news & trends

In the Events and Entertainment industry, staying informed about emerging trends and risks is paramount. It’s important for brokers and organisations to be aware of potential risks and proactively adapt.

Here are some key trends in the events and entertainment industry to keep an eye on:

• Technological advancements: The integration of cutting-edge technology is reshaping event experiences, from virtual reality to ticketing solutions.
• Sustainability and eco-friendly events: There’s a growing emphasis on hosting environmentally conscious events and reducing their ecological footprint.
• Diversity and inclusion: The industry is embracing diversity, with more inclusive events that cater to a broader range of audiences.
• Health and safety: The COVID-19 pandemic has underscored the importance of stringent health and safety measures at events, driving innovation in this area.
• Hybrid and virtual events: The rise of hybrid and virtual events is changing the way audiences engage with content, making it essential for event organisers to adapt
• Streaming services: The competition among streaming platforms is fuelling demand for live entertainment content.
• Data security: As events become more data-driven, cybersecurity and data protection are gaining prominence.

Staying informed about these trends is critical for making informed decisions and safeguarding your clients success in the Events and Entertainment industry. Explore some of the latest insights to stay updated on the event and entertainment industry developments.

Continued growth forecast for the sector into the end
of the decade

Following the hit that the events and entertainment industry took in the wake of COVID, numbers published by Verified Market Research indicates we can expect sustained growth. Between 2021 and 2028, the global events industry is forecast to grow by 13.4% and be worth an astonishing $2.19 trillion.

Minimising the environmental impact of the industry

Coldplay’s Music Of The Spheres tour’s approach to carbon off-setting is estimated to have reduced the amount of CO2 emissions generated by 47%, compared to their previous global stadium tour. With other music artists like Billie Eilish, Jack Johnson, and the Dave Matthews Band considering the environmental impact of touring live music globally, we can expect this conversation to continue.

A greater risk to cyber security

Microsoft’s Cyber Signals report found that a cyber threats are likely to increase for sports and entertainment venues. The report was based upon data gathered during the 2022 FIFA World Cup in Qatar. It found that the wider industry is made vulnerable by the growing number of connected venues, all attendees at these venues can hold valuable information desirable to cybercriminals that could be exploited.

What are the risks within the events & entertainment industry?

The events industry presents a landscape of uncertainties that can emerge unexpectedly and demand comprehensive insurance coverage. Some of the risks that can be found within the event industry include, but aren’t limited to:

• Weather-related disruptions: Unpredictable weather patterns can cause cancellation or postponement of outdoor events, necessitating preparations to mitigate financial losses and ensure safety.
• Non-Appearance Disruption: Due to illness or injury resulting in complete cancellation or postponement of an event.
• Escalating event costs: The industry faces ongoing challenges with the increasing costs of organising events, impacting financial stability.
• Digital threats and cybersecurity: Growing reliance on technology exposes the industry to cyber-attacks and data breaches, risking attendee data and financial consequences.
• Equipment transit and storage incidents: Events involve valuable equipment prone to accidents during transit or storage, potentially causing financial losses.
• Service delivery disruptions: Ensuring seamless event execution is crucial, and disruptions can result in legal and financial consequences.

Investing in event insurance grants peace of mind for you and your clients, ensuring seamless operations even in challenging circumstances.

What types of insurance do you need in the events industry?

We offer a comprehensive suite of insurance solutions designed to meet the specific needs of the Events and Entertainment industry. Our range of individual insurance products provides protection for event organisers, artists, promoters, venues, sporting teams and committees, broadcasters, and a wide spectrum of event types.

We want to make choosing the right insurance for your client’s events or entertainment business as straightforward as possible. Here's a list of insurance types which your clients should consider to ensure their business is protected. While this is just the starting point, it offers clarity on potential coverage areas:

Each of these insurance types plays a crucial role in mitigating risks within the events and entertainment industry, and our experts can help secure the right coverage to fit your clients' specific needs. 

What types of events do we cover?

We provide specialised coverage for a diverse array of companies arranging these types of events. To simplify your understanding, here’s an overview:

• Major Sporting Events
• Concerts
• Roadshows
• Exhibitions
• Corporate Launches
• Conferences and Exhibitions

Please note that not all event types are eligible for each insurance type. Brokers are encouraged to get in touch for tailored guidance from our team.

Our event & entertainment experts

Discover our team of experts dedicated to serving the unique needs of the Events and Entertainment industry. We’re here to ensure your productions shine brightly in the spotlight.

Our Events & Entertainment specialists:

Contingency

Cargo

Cyber