This document summarizes risk management and types of insurance relevant for event management. It discusses the five steps of risk management: identify risks, assess risk potential, prioritize risks, implement controls, and evaluate results. Common risks for festivals include slip and falls, attractive nuisances, and liquor liability. It also outlines types of insurance like general liability, directors' liability, event cancellation, and others. Minimizing claims involves proper documentation like certificates of insurance and waivers.

2. Risk Management & Insurance: Helping You To Help Yourselves Algonquin College Event Management Program BFL CANADA Risk and Insurance Inc. 1565 Carling Avenue, Suite 606, Ottawa, ON K1Z 8R1 613-722-7798 / 888-244-6709 www.bflcanada.ca [email_address] [email_address] Presented By: George Giannoukos, BFL CANADA Risk and Insurance Inc. Jeremy O’Quinn, BFL CANADA Risk and Insurance Inc.

3. B.F.Who? Risk Management Insurance Distribution System Types of Insurance Minimizing Claims Table of Contents

4. BFL Canada Risk and Insurance Inc. Commercial Insurance Brokers and Risk Management Consultants. Established in 1987. Largest privately held insurance and risk management firm in Canada with offices from Coast to Coast. Offer a complete range of commercial insurance products, risk management and risk control services to all industry groups, national and international organizations and associations. B.F.Who?

5. BFL CANADA Risk and Insurance Inc. Varied Clientele includes publicly traded manufacturing companies; construction companies with & without bonding requirements; residential home builders; property management companies and developers; municipalities; hi-tech companies; festival, film and entertainment organizations; NGO’s and non-profit organizations; etc. Official insurance broker – Ottawa Festivals Canadian Red Cross Hockey Canada Navy League of Canada

6. Risk Management Risk Management is a professional discipline that protects physical, financial, and human resources

7. Risk Management What does that mean? Includes management and delivery of services with the least possible risk and exposure. Support to staff by providing advice and processes that help manage that risk. For example: reviewing contracts and agreements to ensure the entity is protected from potential liability issues. helping staff with reporting processes and procedures for insurance losses.

8. Risk Management Why risk management? Everything we do has an element of risk: driving to work vs. taking a bus exercising vs. couch potato chocolate vs. salad telling the boss what you really think…..

9. Risk Management Risk Management has become a popular term, and has many applications. For the most part risk management is used by experts to describe their efforts to cope with the uncertainties that organizations are faced with every day. We talk about risk avoidance, risk tolerance and risk control.

10. Risk Management 5 Steps of Risk Management Identify the Risk Risk Potential Prioritize Risk Determine and Implement Controls Evaluate and Revise

11. Risk Management Identify the Risk What is the exposure and how might it interfere with your objective?

12. Risk Management Risk Potential What alternative risk management techniques or processes could minimize the risk potential?

13. Risk Management Prioritize the Risk Select the best risk management technique or process.

14. Risk Management Determine and Implement Controls Implement the technique or process you have chosen.

15. Risk Management Evaluate and Revise what were the results and what can be changed/adapted for a more effective result? Each situation is different, past risk management choices are constantly re-evaluated, what worked in one situation might not always work in the next. Decisions must be reassessed in order to meet the organizations current policy and goals.

16. Risk Management Good Risk Management Plans: Proactive Through Continuous and Flexible Minimize Risk

17. Risk Management Golden Rules Documentation is paramount: No Documentation, No Defense! Innocent until proven Guilty.

18. Festivals and Events Common Losses & Exposures Slip & Falls are primary source of injuries and claims Attractive Nuisances Liquor Liability

19. Festivals and Events Risk Management Concerns: Volunteer Training Crowd Control Maintenance (continuous, scheduled, documented) Incident Reporting & Claims Record-Keeping Budget

20. Insurance Distribution System Insurance Companies Insurance Brokerages Managing General Agents (MGA’s)

21. Types of Insurance Commercial General Liability Directors’ and Officers’ Liability Event Cancellation Property / Transportation / Marine Crime Prize Indemnity

22. Types of Insurance Commercial General Liability Bodily Injury & Property Damage All Operations and Activities of the Named Insured Employees & Volunteer Negligence Duty of Care Reasonable Person

23. Types of Insurance Directors’ and Officers’ Liability Entity and Individual Board Members Protects against financial loss Stupidity Insurance Attract and retain quality board members Non-Profits: 90% of losses are employment practices

24. Types of Insurance Event Cancellation Circumstances beyond the control of event promoter Non-Appearance Adverse Weather Cancellation Poor Attendance

25. Types of Insurance Property / Transportation / Marine Office Contents, Equipment & Space Staging & Equipment Property on-site (owned and un-owned) Erection including electrical hookup Transportation Canada & World Wide

26. Types of Insurance Crime Employee Fidelity Inside / Outside Loss Depositors Forgery Counterfeit Currency

27. Types of Insurance Prize Indemnity Element of Chance Hole in One Lottery Fundraising

28. Minimizing Claims Certificates of Insurance Additional Insured Hold Harmless Agreements Waivers Acceptable Risk Gross Negligence Joint & Several Liability Protect Yourself & Your Organization – Document Everything!

29. Questions?