Ensuring effective risk management controls is fundamental to delivering a successful event.
From a large sporting event or music festival to a small indoor competition, an event brings together a unique combination of factors, including performers, organisers, suppliers, spectators, and vendors, and, inherently, involves a high degree of uncertainty and potential risk.
The wide span of exposures related to an event, coupled with the potential for insured and non-insured financial loss, is fuelling an increase in risk management awareness among event owners and organisers alike.
To assist all stakeholders, Marsh has developed an event risk analysis (ERA) tool which evaluates the effectiveness of risk management controls for any event.
The ERA tool looks at risk management under the following areas:
- Security.
- Information technology.
- Environmental.
- Financial and management.
- Contracts.
- Site services.
- Loss control (health and safety, fire, medical).
- Emergency response planning.