OREANDA-NEWS. October 19, 2011. Ingosstrakh Insurance Company took part in the 5th International Conference "Industry of business meetings determines the development and prosperity of cities: MICE-Creativity and MICE-Quality". The event was attended by representatives of more than 50 companies - organizers of the mass and business events.

Dmitriy Shishkin, Head of Civil Liability Insurance Department of Ingosstrakh Insurance Company, appeared at the Conference as a speaker with report on "Actual issues of insurance of the mass event organizers". In his report he noted that carrying out of mass events is always associated with certain risks, a scheduled event may be canceled due to force majeure circumstances, the participants may be harmed because of the fire, fall of equipment, constructions demolition, etc. In any case, the event organizer bears unforeseen financial expenses for reimbursement of damages incurred. And the larger and the more considerable the event is — the greater the potential losses.

The event organizers’ liability insurance as well as insurance of the event cancellation risks helps protect the financial interests of the organizers and their reputation. In the event of losses, the insurance company will take over the issues of communicating with victims, conducting assessments, and, where necessary, covering expenses for legal protection of the organizer. There is an opportunity to insure both one specific event and the whole organizer’s business for a year.

For many years Ingosstrakh Insurance Company works on the market of insurance of mass event organizers and has considerable experience in this particular form of insurance, which makes a quick response to emerging market needs possible.