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Sports, Entertainment & Special Risk
Insurance for sports and entertainment professionals
An organizer can plan perfectly, but he has no influence on many risks. Heavy rain, a flooded access road or a power outage can result in the end of an event, its interruption or even a local postponement, resulting in a financial disaster. Even if the event takes place, a chip can be responsible for the TV broadcast, stream or advertising board failing. And if a premiere is canceled, it can be a drama. The tenor has no voice, the rock star is in bed with a fever or the open air stage doesn't close when it rains.
A sporting event or disruptions in the course of a concert or festival can also be expensive for sponsors: if a record is broken or a title is unexpectedly won with bonus payments then due. Or a festival is canceled or interrupted. On the one hand, unbudgeted costs have been incurred, but on the other hand, the money invested cannot achieve its desired advertising effectiveness.
Our tailor-made insurance concepts take the fear out of all financial damage. Whether you are a sports or concert/festival organizer, booking agency, hall operator, artist manager or event agency - place your responsibility on our shoulders.
Your added value
Our top priority is togetherness. Each risk must be viewed individually. A festival differs significantly from individual concerts. A tour also presents special challenges. Just like the sporting events with their special requirements, which are always closely linked to the respective sport.
Before we provide information about the process, budgets and any special requirements, we initiate a dialogue. You know best what your risks are. But this is exactly where we come in with our experience and expertise. Based on real-world events, we provide our customers with a very broad spectrum in order to discuss with you the orientation of what potential insurance coverage should look like. You set the direction, we provide the additional considerations.
After the exchange, our work continues. With the information you provide, your event will be introduced to the insurance market and negotiated in your interests. We represent the interests of the customer, not the insurance industry! We rely on an international network in order to be able to offer the greatest possible advantage in terms of performance and scope.
Finally, we need to present the results of our survey to you. Price-performance ratios are discussed as well as points that may not need to be taken into account any further or, in our opinion, deserve special attention. But as always: only you can decide.
We see ourselves not only as part of this diverse industry, but also as a partner in terms of advice. The insurance market has become confusing in many ways. We create clarity and transparency so that you can make a commercial/risk management decision, coupled with our understanding of the industry.
Sports & special risks
Our special insurance concepts protect you comprehensively and help you achieve your business or advertising goals. Because as a “player” in the international world of sport, you need appropriate support in addition to a clear risk awareness. We offer this to you with all our expertise.
Or do you want to risk that the testimonial advertising will be a flop because the star can no longer be placed in public? That with a sponsorship agreement unexpected success bonuses for teams and top stars make the marketing budget incalculable? That spectacular competitions and promotions, despite all probability calculations, overturn the financial concept? That sporting failures such as relegation from the league or lack of presence in international business endanger long-term investment and financing planning?
We will help you with our sophisticated insurance concepts and put you on the winning side in every case.
We also offer you our know-how as a consulting partner.
Do your future company profits depend on the outcome of sporting events and you are looking for a professional risk assessment? Are you organizing a competition and would you like to involve an external partner to ensure that the drawing runs smoothly? Are you offering a special Hole-In-One prize and are you looking for someone to monitor the event?
We offer you a wide range of services relating to sports and events, please contact us.
Event cancellation insurance covers the financial loss caused by a total failure, i.e. a cancellation before the start of the event, or by a cancellation, i.e. the termination of an event that has already begun. Event cancellation insurance is usually an all-risk cover, so that all causes of a cancellation are covered, with a few explicitly mentioned exceptions. Large events in particular incur high expenses in advance due to advertising and organizational costs, so that the risk of reduced income or no income must be covered. The event cancellation insurance is individually adapted to the organizer's risks.
The insurance covers damage that occurs as a result of the cancellation, cancellation or restricted implementation of a planned event due to adverse weather conditions, storms, rain, hail or, in the special case of ski racing or ski jumping, for example due to a lack of snow or fog.
The insurance covers damage that arises as a result of the cancellation or cancellation of a planned event if named people (key people) are absent due to accident, illness or death.
The insurance covers damage that occurs as a result of a total or partial failure of the TV and/or streaming signal as part of a planned transmission.
The insurance covers damage that occurs as a result of a total or partial failure of advertising hoardings, such as LED/LCD or revolving hoarding systems as part of a planned event. Especially in the context of live broadcasts of sporting events.
The policyholder's legal liability under private law is insured for all planning, preparation, implementation and final work of the event.
Many compensation systems in professional sports and the advertising industry provide for variable bonuses that depend on sporting success. Sponsors pay bonuses when the club or athlete wins a title; Clubs have to pay higher salaries to athletes if they are successful in sport, and even in the advertising industry, additional bonuses for personal testimonial successes, such as winning the “Sportsman of the Year” award, are not uncommon. The financial loss that occurs when such variable remuneration has to be paid can be replaced by prize bonus insurance. Here too, it is important to carry out early and serious risk management; A club that is already in first place in the table cannot be insured against winning the title.
The insurance covers financial loss that occurs to the policyholder as a result of planned income being lost due to failure/relegation or compensation payments becoming necessary due to failure/relegation. Reduced income (from the club's perspective) can arise from: lower TV income, lower income from jersey, perimeter and other advertising, lower audience income. Additional expenses (sponsor/marketer perspective) may arise as a result of lower advertising performance.
Prize indemnity insurance covers the financial loss (indemnity = compensation) that arises for the policyholder if, due to a specific event, income is not received or contractually agreed payments are not to be made (prize = price).
The insurance covers financial loss that occurs to the policyholder as a result of an advertised prize or prize money becoming due.
Who hasn't collected bottle caps from their favourite beer or loyalty points at gas stations in order to redeem a desired reward? However, the popularity of this type of customer loyalty and sales promotion campaign can pose a risk for the organiser of such a promotion: unexpectedly high returns (“over redemption”) can quickly exceed the planned costs and therefore your budget. With over-redemption insurance, the expected response must be borne by the organiser (e.g. 3% response) and the insurer covers the risk above (e.g. 3% to 20% response) in return for payment of an insurance premium. Instead of just insuring a range of risk, you also have the option of having your campaign insured 100% at a fixed price: In return for payment of a pre-agreed fee, the risk bearer assumes all defined costs associated with the response rate. Talk to us about our services, for example if you are planning one of the following promotions: collect-and-win promotions, couponing campaigns, free sample promotions, bonus promotions, money-back guarantees, direct mail campaigns or SMS promotions.
Offer your customers a special money-back promotion: money back if it snows on Christmas. Money back if Germany becomes world champion. If the event occurs and you have to refund the purchase price, the insurer will compensate you for lost sales.
The insurance covers financial losses that occur to a professional athlete or a club as a result of the professional athlete no longer being able to practice their profession due to an accident or illness.
Without functioning electronic and technical facilities and equipment, nothing works in your company or at your event. It is therefore important to have sufficient risk coverage in this sector. Our electronics and technology insurance insures the technical equipment during transport, storage or use.
A trusted risk partner
We use our expertise to help you achieve the best protection at the most completive price.
ENTERTAINMENT
Our tailor-made insurance concepts in the entertainment business area protect you from high costs arising from personal absences of your artists or from personal injuries and property damage at the event location. We can also insure your costs and production profits against all weather risks at open air events.
Howden Caninenberg is one of Germany's leading insurance brokers for risks in the live entertainment industry. We are firmly connected to the entertainment industry, in constant exchange with tour organizers, booking agencies / artist management, hall operators and specialist lawyers from the industry.
As a supporting member of the Federal Association of the Event Industry (bdv), we are always up to date with the latest developments in the event industry. We are also a supporting member of the European Association of Event Centers (EVVC) .
Our specialists speak your language and are eager to offer insurance solutions for your event risks. This gives you time to concentrate on your core competencies.
Event cancellation insurance
Event cancellation insurance covers the financial loss caused by a total failure, i.e. a cancellation before the start of the event, or by a cancellation, i.e. the termination of an event that has already begun. Event cancellation insurance is usually an all-risk cover, so that all causes of a cancellation are covered, with a few explicitly mentioned exceptions. Large events in particular incur high expenses in advance due to advertising and organizational costs, so that the risk of reduced income or no income must be covered. The event cancellation insurance is individually adapted to the organizer's risks.
Weather insurance
The insurance covers damage that occurs as a result of the cancellation, cancellation or restricted implementation of a planned event due to adverse weather conditions, storms, rain, hail or, in the special case of ski racing or ski jumping, for example due to a lack of snow or fog.
Non-appearance default insurance
The insurance covers damage that arises as a result of the cancellation or cancellation of a planned event if named people (key people) are absent due to accident, illness or death.
TV signal and streaming outage insurance
The insurance covers damage that occurs as a result of a total or partial failure of the TV and/or streaming signal as part of a planned transmission.
Organizer liability insurance
The policyholder's legal liability under private law is insured for all planning, preparation, implementation and final work of the event.
Electronics and technology insurance
Ohne funktionierende elektronische und technische Einrichtungen und Equipment läuft in Ihrem Unternehmen oder bei Ihrer Veranstaltung nichts. Entsprechend wichtig ist eine ausreichende Risikoabdeckung auf diesem Sektor. Unsere Elektronik- und Technikversicherung versichert das technische Equipment während Transport, Lagerung oder Gebrauch.