March Madness – Are Your Clients Ready?

March Madness is around the corner! Time to fill out your brackets and start cheering on the teams with friends and family. It’s also a good time to touch base with your clients to see if they’re planning to participate in any “madness” of their own. If they are serving liquor or are providing liquor at a company-sanctioned event, they should be including you as part of their plans — they just don’t know it.

Most small businesses are already equipped with general liability, which provides broad coverage for incidents such as people slipping and falling, or a faulty promotional item provided to a customer. However, depending on the nature of an event, general liability coverage may not be enough.

In some business policies, event coverage is automatic. However, things like liquor liability and event cancellation can be add-on services that need to be requested. If an add-on policy seems overboard, a company can also opt to get a one-time special event policy separate from the one that covers its day-to-day business.

Regardless of the route taken, UIG suggests that the insured obtain a copy of the policy, in advance of an event, to verify that their coverages can handle any liability issues that may arise. If they’re not asking to review their policy, be proactive and suggest that they should.