For people having events that can be large, such as wedding, big, family re-unions, company parties, and other types of celebrations, looking to purchase insurance for those events can be a smart thing to do. The Claims Journal published an article about events insurance that is good to read. The article is titled, Disastrous Fyre Festival Sheds Light On Events Insurance.
Already facing numerous lawsuits, Fyre Festival organizer Billy McFarland was arrested on federal charges last week. The government alleged he defrauded investors who bought into Fyre Media Inc., the company behind the music festival that collapsed so spectacularly in the Bahamas a few months back.
But the fiasco’s graduation to prosecution is almost beside the point as far as the festival industry is concerned. Events constructed to attract free-spending youth tend to include some who drink too much or take drugs and consequently do all the risky things that come with both. Organizers already had it tough when it came to getting insurance. Then Fyre Festival came apart, replete with tent cities, stranded teens, broken promises, and a global media spotlight covering it all.