Thirty-two million people in the U.S. attend festivals each year. Concert and event promotion has grown at a CAGR of 9.1%, to $65 billion from 2018 to 2023, according to IBIS World. In addition, there is an average of two million weddings in the U.S. annually, according to ZIPPIA. These statistics reflect the robust event industry and opportunities for agents and brokers to tap into this market. Abacus, an ISC company, has made insuring events really easy for agents and brokers.
Whether your clients have a single event or many events throughout the year, are holding events stateside or overseas, want to cover the entire event or just a specific performer or vendor, or seek to insure a wedding with a limited guest list or a concert with thousands of attendees, you can obtain real-time quotes in just two minutes on the Abacus online portal.
“We insure over 200 types of events,” says Darren Lewin, Vice President – Programs at Abacus. “Our appetite includes events sports, concerts, plays, festivals, weddings, holiday events, parties, business meetings, and more.”
Typical exposures at an event may involve slips and falls, property damage, equipment damage, accidents when transporting equipment, and injuries to performers. The Abacus Events Programs respond to these and other exposures with a comprehensive, competitively priced product.
Access the Event Insurance Program for Your Client
Retail producers simply select from one of the various Abacus Event programs:
- Single Events program: Coverage for a single event for up to 90 days.
- Annual Event program: Multiple events on a renewable policy.
- Vendors & Exhibitors program: A single vendor or exhibitor at an event.
- Foreign Events: Single event, or multiple events, designed for events taking place outside the US & Canada.
Lines of business vary by program and may include: Inland Marine (rented equipment, owned equipment, third-party property damage, and more), General Liability (with options for Liquor Liability, Host Liquor, Abuse & Molestation, Participant Legal, and more), Hired & Non-Owned Automobile, Excess Liability (limits up to 10 million), Workers’ Compensation, and Accident Medical (covering Participants and/or Spectators).
“The Abacus Event Programs are available in all 50 states, with coverage written on an admitted basis with an ‘A’ rated XV carrier,” says Lewin. “Get appointed with Abacus, and you can begin insuring accounts with our easy-to-use platform, offering the type of on-demand service clients expect.”