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While exceptional service and stunning spaces continue to be essential to setting your business apart, there’s one often-overlooked factor that can give you a significant edge: event insurance. It demonstrates proactive riskmanagement By offering or requiring event insurance, you showcase your commitment to riskmanagement.
Riskmanagement is a dedicated preparedness rather than simply a mental exercise, according to Lisa Sommer Devlin, the most recent Smart Meetings webinar host. In her talk, “RiskManagement 101,” she outlined strategies for dealing with the risks of the industry, as well as how to actively avoid them. Legal Risks.
Meeting professionals today are riskmanagers. Co-insurance should include coverage for third-party claims, so that if an attendee gets injured or sick, you are held harmless. It should also stipulate that claims of property damage should be limited to the amount of property insurance. There is always risk.
Meetings in the financial and insurance sector require outside-the-box thinking. The economy was humming along before the coronavirus hit, but even then the majority of meeting planners in the financial and insurance industries were keeping their budgets in neutral. Financial and insurance meetings in the U.S.
This year, we talked tips, tricks and insights with legal professionals on negotiating event contracts and navigating the current legal landscape. Meeting professionals today are riskmanagers.” Harness the Power of Negotiation for Post-Covid Success. “In Contract Negotiation: Post-Pandemic Clauses You Need to Know.
Better contract negotiations. We have implemented a risk-management manual to our events and we have purchased more event insurance for better protection. Increase in what we budget for food and beverage, and managing other costs more closely. Started implementing a strategic meetings management program.• . •
So the interns should learn how you negotiate that type of situation.”. Of the 27 competencies listed in CIC’s handbook, it could be site inspection, contract negotiation, promotions, and publicity. THE ART OF THE DEAL Ogbeide sees negotiation experience as essential. How do you identify a risk?”. It could be programming.
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