Brent Daughrity Cited as Contingency Insurance Expert
As storms across the U.S. threatened live entertainment everywhere, including local popular festival Pilgrimage, Anderson Benson entertainment group practice lead Brent Daughrity was sought after as an expert commentator on contingency insurance, which can protect organizers and promoters in light of a cancellation.
In writing for the Nashville Business Journal, Daughrity notes on the importance of considering this line of insurance:
Many concerts and live events have been cancelled this year for a variety of reasons. For weather cancellations like Pilgrimage, when making the call organizers must take into consideration the whole ecosystem: Will the event compromise capacity for law enforcement and emergency officials? Will traveling or attending patrons be put in danger?
When a planned event doesn’t occur as promised, someone (and most of the time that someone is the promoter) is on the hook to pay the artists, venues, vendors and refund would-be patrons.
You can read his full article here.
In the Tennessean, he notes says contingency insurance is “a common practice and a best practice in the festival world.”
You can read the full article here.