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RISK IN CONTEXT

How To Build A Crisis Response Plan for Sporting Events

Posted by Richard Tolley 30 November 2016

This year has seen several high-profile sporting events, such as the Olympics and Paralympics in Brazil and the Euro 2016 championships in France. Luckily, big events have thus far ended successfully, with no known security breaches.

But the threat remains, as sporting events have been targets of terrorist attacks. During the attacks on Paris in November 2015, the Stade de France was the first venue to be targeted, while there were 79,000 spectators in the stadium watching the football game between France and Germany. Meanwhile UK police warned earlier this year of the severe terrorism risk to high-profile events.

It’s not just a threat to your event which can lead to cancellations and business interruption.  Nearby attacks, or attacks taking place before your event, can lead to cancellations for safety and security reasons.

The safety of spectators, employees, and sporting participants is the first priority of any crisis planning. But in order to mitigate business interruption and property losses, you should:

  • Develop and test business continuity plans and emergency response plans for your venue.
  • Be prepared to gather appropriate information in the event of a claim, including recording damage via photographs and video.
  • Coordinate business interruption insurance with other coverages, including political violence and terrorism insurance.

Insurance Considerations

When considering what type of insurance to choose to mitigate the risks of terrorism threats, it can be difficult to know whether political violence, terrorism, or a combination of both is the best choice for you in order to protect against business interruption and property losses.  The following is important to consider when choosing the right cover for your event:

  • Ensure the limits of insurance that you buy provide enough protection for multiple loss scenarios.
  • Review the location of your assets to determine the appropriate insurance solution.
  • Understand the policy terms, conditions, and limitations of terrorism and political violence insurance.
  • Work with your advisers to understand your property and employee exposures so you can make an informed decision or mitigate potential losses.

Nothing can prepare us for the human shock of events such as the Paris attacks. But integrated and well-practiced crisis and continuity plans can prepare you to meet a crisis and recover from losses incurred.

Related to:  Sports

Richard Tolley