Sports, Leisure & Entertainment

The seasonality of some aspects of the Sports, Leisure & Entertainment industry can compound the risk of business interruption. The impact of a disaster on a business at the wrong time of the year can be catastrophic (e.g. a hotel burns down immediately before the Olympics or a flood shuts down a busy visitor attraction). It is important to consider the correct business interruption cover and extensions, including the indemnity period, to ensure revenue is adequately protected. Sports, Leisure & Entertainment customers need to really understand the impact risks such as loss of attraction, prevention of access, interruption to public utilities and other core business interruption risks would have on their business at their busiest times. Zurich has expertise in business interruption insurance that spans across the key industry risks.

The value of a brand and its industry reputation is an essential part of any business. Mismanaged exposure can cost your customers money. Negative exposure within the press can severely damage the value of a brand and its reputation resulting in loss of revenue, loss of customer confidence and shareholder value. We have introduced a Crisis Containment extension to our existing cover to alleviate damage to the reputation of the company following a significant claim. The cover is triggered on any insured property or casualty claim over £1 million. Our PR and crisis management partners Hill+Knowlton are also able to support your customers with preparation and management training for situations that impact their reputation.

It is often the ability to continue trading after an incident that determines business survival. So, in addition to risk management, it is important that there are effective, comprehensive and up to date business continuity plans, including emergency and public relations activity, disaster recovery and other aspects of business continuity. To be effective, these plans must all be regularly tested in real world situations, challenged against ‘what if’ scenarios and reviewed so the plans adapt and improve, taking into account changes (whether current or future) to the business and its environment. Zurich has expertise in all the key aspects of this critical area and can assist your clients in their planning.

There are a number of health & safety pressures in Sports, Leisure & Entertainment venues. This sector includes a wide range of activities from sports and outdoor pursuits, through to large stadia, all of which have specific health & safety issues. Zurich are able to advise and offer insights covering a whole range of potential hazards such as injuries from slips, trips and falls from height, manual handling and falling objects.

This aspect of health & safety is a key risk for Sports, Leisure & Entertainment businesses in today’s ever increasing litigious society. There are a vast number of establishments and activities in which personal injury can happen, particularly where there is a large audience or high footfall. Employers and organisers of public gatherings and outdoor events have a responsibility to ensure that risk to the public and employees is minimised wherever possible. Claims defensibility starts before an accident actually occurs – it can be too late to take some actions once an accident has happened or a claim is made. Safety for participants, employees and spectators are an exposure that we can help to manage. Our risk engineers, legal panel and claims experts are experienced in the defensibility of these claims and we are able to assist with risk management advice relating to issues such as spectator marshalling and site inspection. Our Zurich risk team are well versed in health & safety matters and are also able to assess risk to vulnerable adults and individuals.