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Risk vs reward. An insurer only wants the gains, but without taking a risk on the outcome? That's why you have insurance -- insurers just need to have proper ri
by charlesdm 9y ago
Risk vs reward. An insurer only wants the gains, but without taking a risk on the outcome? That's why you have insurance -- insurers just need to have proper risk management in place and correctly determine a price they want to charge to insure an event.
A festival that has had 10+ annual successful runs will likely be (much) cheaper to insure than a startup project.
If drugs and/or alcohol are the problem, then you raise the premium to account for that.
- andrewljohnson 9y ago>> insurers just need to have proper risk management in place and correctly determine a price they want to charge to insure an event Is that supposed to be a definition of the insurance industry? The article discusses a number of tactics the insurers take to make this happen, including walking the event site before and after, and monitoring who manages the event, down to the boots on the ground. This comment seems to say all the dummies are doing it wrong and just need to wise up and crunch a few numbers.