What is a public event organizer's third party liability insurance?
Answer: It is specified in the „Public Entertainment and Festive Event Security Law” that came into effect on September 15, 2005 that the organizer of an event must insure his third party liability (hereinafter – the GTPL). But the Regulation of the Cabinet of Ministers No. 298 on the mandatory insurance if third party liability of organizer of a public event came into effect on
Public event organizer is responsible for provision of preventive measures, as well as for damage to health, life and physical well-being that may be caused to participants by poor safety systems, poorly installed lighting or scenery, and many other factors.
Insurance contract may be concluded for a specific event (one project policy) or for all activities (yearly policy), which will be organized during the year.
What is covered by the public event organizer's third party liability insurance?
Answer: Insurance protects the policyholder (the event organizer) from possible damages to third parties for damage to their health, life or physical well-being and property damage (including damage caused to visitors and property / surroundings), resulting from the event organized (a loss or damage that may be caused by the event organizers).
The following loss/damage is not covered:
-
incurred in connection with fireworks and other illumination;
-
mutual responsibility between visitors and participants of events;
-
insured liability to subcontractors involved in organization of the event;
-
caused by visitors to the organizers.
Who is a third party?
Answer: Any natural or legal person except those specified in the policy (Policyholder, Insured and Insurer). Participants of the event are not considered third parties.
What is a liability limit?
Answer: It is the maximum amount payable by the Insurer to a third party in the case of occurrence of an insured event. The minimum liability limit is specified in the Regulation of the Cabinet of Ministers No. 298, and the amount thereof depends on the number of visitors and participants of the specific event:
-
planned number of visitors and participants of the event is up to 100 persons - 2
000 LVL; -
planned number of visitors and participants of the event is from 101 to 1 000 persons – 7
500 LVL; -
planned number of visitors and participants of the event is more than 1 000 persons – 10
000 LVL.
Insurance contract for a number of events, minimum liability limit is 30