Beedster Posted November 22, 2022 Share Posted November 22, 2022 Can anyone explain the difference, we have a venue requiring indemnity cover apparently apparently indicating PL is not sufficient? Quote Link to comment Share on other sites More sharing options...
Burns-bass Posted November 22, 2022 Share Posted November 22, 2022 Isn’t indemnity for accidents (a PA stack falls on a dancing punter) and indemnity for a professional issue (that you’re rubbish and the venue sues you for the ticket fees back). 1 Quote Link to comment Share on other sites More sharing options...
jazzyvee Posted November 22, 2022 Share Posted November 22, 2022 (edited) If you are in the MU it might be worth checking with them to see if their insurance covers more than Public Liability or if it can be included as an add on. Anyway this is what i found with a quick search on-line. What Is Indemnity Insurance? The term indemnity insurance refers to an insurance policy that compensates an insured party for certain unexpected damages or losses up to a certain limit—usually the amount of the loss itself. Insurance companies provide coverage in exchange for premiums paid by the insured parties. These policies are commonly designed to protect professionals and business owners when they are found to be at fault for a specific event such as misjudgment or malpractice. They generally take the form of a letter of indemnity. What is public liability insurance? Public liability insurance will help protect your business if a claim is made against you, e.g. if something happens at work that results in injury to a customer, a member of the public or damage to someone’s property It’ll protect your business against damage and the cost of legal claims people make against you, if you’ve done something that’s resulted in injury to a member of the public or damage to their property. Product liability insurance offers protection if a product that you manufacture, sell, install, repair or alter causes injury or illness to a customer, or damages their property. For example, if you sell electrical goods that have caused injuries to a customer and you’re found to be at fault, then public liability cover will help go towards the cost of compensation and legal fees. Edited November 22, 2022 by jazzyvee 1 Quote Link to comment Share on other sites More sharing options...
Beedster Posted November 22, 2022 Author Share Posted November 22, 2022 Thanks guys, it seems odd that the venue wants evidence of indemnity cover and not public liability cover, it's a wedding BTW, Having said that, as per @Burns-bass post we are pretty rubbish so perhaps indemnity is more relevant 🤔 1 Quote Link to comment Share on other sites More sharing options...
Jakester Posted November 22, 2022 Share Posted November 22, 2022 43 minutes ago, Beedster said: Thanks guys, it seems odd that the venue wants evidence of indemnity cover and not public liability cover, it's a wedding BTW, Having said that, as per @Burns-bass post we are pretty rubbish so perhaps indemnity is more relevant 🤔 Hmm, I'd be a little concerned about that request. Essentially PL cover *is* indemnity insurance - in that the insurer agrees to indemnify you on the happening of a claim arising from loss or injury occurring in the course of your activities. I suspect the venue want you to indemnify them against claims, losses etc - or they don't know what they're talking about. If the former, be very careful as if you agree to such you could invalidate the terms of your PL cover. I would go back to the venue and ask why they suggest PL cover is inadequate and what they require over and above that. Certainly a venue requiring an express indemnity is very unusual IME (musician of many years' experience and solicitor who used to specialise in insurance law). 3 Quote Link to comment Share on other sites More sharing options...
la bam Posted November 22, 2022 Share Posted November 22, 2022 The wedding coordinator may well mean pli and has just heard indemnity said by someone and calls it that, meaning liability. Just ring them and double check. I'd be surprised if it's not pli she means. 1 Quote Link to comment Share on other sites More sharing options...
Dan Dare Posted November 22, 2022 Share Posted November 22, 2022 11 hours ago, Jakester said: I suspect the venue want you to indemnify them against claims, losses etc - or they don't know what they're talking about. If the former, be very careful as if you agree to such you could invalidate the terms of your PL cover. This. You could find yourself on the hook for all sorts of things if you indemnify the venue for any/all claims and losses. It's vital that the things you agree to indemnity them against are clearly defined. Jakester's right. You need to get this clearly established and in writing. If there's any doubt, I'd say no to the booking to safeguard yourself. 2 Quote Link to comment Share on other sites More sharing options...
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