You're on mute!!

We’d hazard a guess that in 2020 this phrase was used more than any other by participants in online calls, team meetings and virtual events. With the return of physical events still to be announced in the UK it seems likely virtual events and hybrid events will continue throughout 2021 and beyond.

When looking at how to best protect your investment and potential profits from events, it’s easy to appreciate the risks a physical venue might face alongside the various exposure the organiser might be confronted with but for an online platform broadcast, it might be a little more of a journey into the unknown.

The principal risk is loss of transmission ability. Imagine that, everything is ready to go and computer says “NO” or ‘Ralph Broke The Internet’.

According to the website DownDetector, Zoom had problems and outages on 33 separate occasions between just March and November 2020 in the UK alone. Obviously, this is not the exclusive platform available, but it gives us an insight into how online meeting software has performed since perhaps the demands of their services have fared.

In general, we are hearing more success stories from our clients telling us how they are successfully managing to monetise virtual events, perhaps giving them and their brands a lifeline during this terrible trading period.

Unfortunately, lifelines can break. So, it’s no wonder we are receiving more requests from organisers who are looking to insure their expenses and revenue, should the chosen platform go down when they are hosting a virtual event. Fortunately, an insurance solution has been created and introduced by InEvexco to the exhibition and business events sector to cover this very risk.

The virtual events transmission insurance policy supports organisers whose success relies on technology platforms, providing seamless transmission or broadcast to their audiences. If an event is cancelled due to transmission failure, the policy covers first-party losses including organisational costs, expenses, or gross revenue from advertising and ticket sales.

If you are organising a virtual event and want to understand your exposures and how these can be protected please get in touch and we can arrange an online meeting to discuss…… just remember to make sure you are not on mute, please!!!

Contact Mark Blair on 07834 158074 or email mark.blair@inevexco.co.uk for more information.