Media, Entertainment and Events

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Talk to us about your Media, Entertainment and Events business

Media, Entertainment and Events

The old saying ‘the show must go on’ does not give sufficient regard to the array of risks that need to be managed by organisations operating in the events sector.

An event may be anything from an advertising campaign and brand activation through to conferences, concerts and major sporting tournaments. This diversity brings a range of risks to consider, from venue availability, adverse weather, talent non-appearance, technology failure through to working with contractors and freelancers, and meeting customer objectives.

Media businesses, such as content providers and advertising agencies, face similar risks and the additional risks of operating in the dynamic environment of digital and social media platforms.

How we can help

Having worked with a wide variety of organisations, from corporate event managers and performers through to creative agencies, production businesses, and sporting bodies, we are familiar with the risks involved.

While most organisations and business owners adopt sound practices in identifying and assessing risks in the work they do, we apply the Barrack Broking Principles and add value by:

Irrespective of the size or nature of your business, Barrack Broking will work in partnership with you to support your objectives.
When designing bespoke insurance solutions, we bring our combined expertise in risk consulting and insurance for a broad range of insurances, including:
Case study:

High Flying and
High Profile Events

With more than 20 years’ experience, this talent management and event management agency started out representing media and sports personalities and managing a range of sporting events, corporate hospitality and concerts. More recently, they have expanded into sports licensing and sponsorship, promotional activities, marketing, and brand and product activations.
Such a dynamic organisation faces two broad challenges:
1
Inconsistent processes for managing the wide range of risks, and
2
Establishing an insurance program that is flexible enough to cater for both their day-to-day activities and the hosting of unique events.
Barrack Broking, in partnership with the Operations Director and Principal Consultants, created a risk framework where the necessary additional risk management processes can be introduced or insurance can be immediately procured. For example:
Product activation
To stage the launch event for a prototype drone, the event company and drone owner had to meet the safe operating practices and insurance requirements of the venue and various government agencies. We carried out the risk identification and assessment, implemented the safe operating practices, and acquired bespoke insurance coverage for both the event company and drone owner/operator.

Event cancellation
Two concerts involving a globally recognised performer were being produced by the event agency. The artist had cancelled earlier performances in their global tour. The agency now sought Event Cancellation insurance to cover the two concerts. The insurance sums already paid out during the tour had been substantial. We managed to find an insurer and negotiate coverage options at a range of pricing.

Publicity tour
Through the talent agency division, a high profile former sportsperson had been contracted by a broadcaster to perform a two-month media engagement. Under the broadcaster’s contract, the sportsperson needed to obtain specific personal accident and illness insurance protection. We found an insurer to provide the specified insurance and were able to negotiate coverage options at a range of pricing.

These are just a few examples of the ways in which Barrack Broking will apply innovative and practical solutions to support our clients in the dynamic environment of Media, Entertainment and Events.
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