Are You Planning An Office Holiday Party?

Are You Planning An Office Holiday Party?

Office Holiday parties are a wonderful way for employers to show their gratitude this time of year. However, while calculated risk management will help your party run smoothly, business owners need to be mindful of the additional risks that may come with this type of festive event. For instance if you are providing alcohol at the party problems can occur, and you’ll want to make sure you are ready for the financial and legal liability that these issues may cause.

Here are some insurance coverage options you will want to make sure are in place to safeguard your business from potential risks:

Commercial General Liability—Luckily most businesses already have commercial liability insurance that protects many of the risks an office party may create. If your policy does not cover liquor liability or other exposures specific to your event, consider investing in special event insurance or host liquor liability coverage.

Employment Practices Liability Insurance (EPLI)—If alcohol is being served at your office party it is probable that intoxicated employees may injure themselves or others. There is also a risk that they may say or do something offensive. EPLI can protect your business against discrimination or sexual harassment claims that may result from an inebriated employee who has harassed a client or co-worker. As the business owner, make sure the plan is endorsed for covering third party claims or claims submitted by any nonemployees who may be present at your event.

Venue Insurance—If you decide to hold your office party in offsite you will want to verify whether or not you will need secondary insurance by checking with the venue. Contact SAVA to find out if your general liability insurance will fully protect your risks in a secondary venue.

Hosting a holiday gathering is a great way to wrap up the year and celebrate major company wins. Whether it’s for a celebration or year-round protection, let SAVA find the right insurance solutions for your business at (860) 437-7282.

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