Buy Speakers Bureau Insurance

Speakers Bureau Insurance Policy Information

Speakers Bureau Insurance. Keynote speakers attract significant amounts of buzz, drawing large numbers of people to events. Speakers bureaus are in the unique business of bringing motivational and keynote speakers and event organizers together.

Lecture or speakers' bureaus match speakers with organizations that want to hire presenters for private conferences or public events. A speaker may specialize in a particular industry, such as economics, education, or politics, or may offer more general topics such as comedy, drama, or sports.

The bureau acts as a go-between, negotiating the speaking fee and logistical issues, such as audiovisual support and travel expenses. The bureau keeps information about the speakers they represent, their speech topics, photos, promotional material, resumes, and records of their past engagements.

The bureau is paid by the speaker based on the fee they receive, by either commission or a flat fee basis. The speaker, the hiring company, and the bureau must all fully understand the terms and conditions of the speaking arrangement, including dates and time for the speaking assignment and who is responsible for arranging and paying for audiovisual equipment, transportation, and accommodations.

In acting as brokers, they benefit both talented speakers and organizations looking to make their events as attractive as possible. Drawing up contracts and managing schedules both fall into a speakers bureau's scope of activities as well.

There is no question that speaking bureaus are in is both one-of-a-kind and highly rewarding. Given the fact that well-known motivational speakers can charge thousands of dollars for a single arrangement, owning and running a speakers bureau can additionally be a lucrative choice.

However, these business do face hazards - just like any other commercial venture. That is why it is vital for lecture bureaus to carry excellent insurance coverage. What types of speakers bureau insurance might be needed, and why? Keep reading to get the answers you were after.

Speakers bureau insurance protects your professional and keynote speaking business from lawsuits with rates as low as $27/mo. Get a fast quote and your certificate of insurance now.

Below are some answers to commonly asked keynote speaker bureau insurance questions:

• What Is Speakers Bureau Insurance?
• How Much Does Speakers Bureau Insurance Cost?
• Why Do Speakers Bureaus Need Insurance?
• What Type Of Insurance Do Speakers Bureaus Need?
• What Does Speakers Bureau Insurance Cover & Pay For?

Why Do Speakers Bureaus Need Insurance?

Speakers bureaus face a wide range of risks, just like any other business. Some of those risks are universal in nature, while others are industry-specific. What all perils all share in common, however, is that they lead to unplanned expenses - which can sometimes be so exorbitant that your business will be saddled with massive debt.

Your commercial premises may, for instance, be impacted by natural disasters. Also called acts of nature, they include large-scale events such as earthquakes and wildfires, but also localized disasters like hailstorms or lightning strikes that can likewise inflict severe damage to your property.

Vandalism, theft, including cyber theft, and accidents are further examples of threats to your physical assets.

The second major risk category speakers bureaus face are liability issues. In the event that an employee is injured while at work, you may be held responsible for the costs. The same holds true if a third party, like a speaker you work with, suffers injury within your office space.

In addition, you could face lawsuits for virtually any reason, including allegations of copyright infringement or damages due to a speaker not attending an event you booked them for.

Having speakers bureau insurance will save you from the devastating financial consequences that would otherwise follow these and other perils.

You may not be able to prevent all disasters, but in insuring yourself to the best of your ability, your speakers bureau can be confident that it will survive any mishap that may land on its path.

Speakers Bureau's Risks & Exposures

Premises liability exposure is moderate due to the customers and lecturers who visit the bureau's office. Areas accessible to the public must be well lighted with floor covering in good condition. Exits must be sufficient in number, be well marked, and have backup lighting in case of power failure.

Parking lots and sidewalks need to be in good repair with snow and ice removed, and generally level and free of exposure to slips and falls.

Personal injury exposures may include allegations of assault, breach of confidentiality of speaker and client company's private information, discrimination, invasion of privacy, or if speakers make comments that could be construed as derogatory or offensive.

This risk increases unless the bureau has appropriate contracts with the speakers and client companies.

Errors and omissions exposure can result from the commitments and bookings made should errors occur in dates and arrangements, or from misrepresentation of a speaker's qualifications. Hazards increase without proper contractual wording specifying the exact date, time, place, and other arrangements for services purchased.

Workers compensation exposure is limited to that of an office. Potential injuries include eyestrain, neck strain, carpal tunnel syndrome, and similar cumulative trauma injuries that can be addressed through ergonomically designed workstations.

Personal contact with clients and speakers may involve situations that could produce injuries, such as assault.

Property exposures are generally limited to that of an office. Ignition sources include electrical wiring, heating, and air conditioning systems, wear, and overheating of equipment. Computers and other electronic equipment may be targets for theft.

Inland marine exposure consists of accounts receivable if the bureau offers credit, computers, and valuable papers and records for client companies' and speakers' information. Duplicates must be made and kept off-site.

If microphones, slide projectors, and similar electronic equipment are provided for use by the lecturers, a special floater may be needed.

Business auto exposure is generally limited to hired and non-owned. If vehicles are provided to employees, there should be written procedures regarding personal use by employees and their family members.

All drivers must have appropriate licenses and acceptable MVRs. Vehicles must be maintained and records kept in a central location.

What Does Speakers Bureau Insurance Cover & Pay For?

Speakers Bureaus can potentially face several types of lawsuits, and having the right insurance coverage can help mitigate the financial risks associated with these legal actions. Here are some reasons why Speakers Bureaus might be sued and how insurance can protect them:

Breach of contract: A Speakers Bureau might be sued if it fails to fulfill its contractual obligations, such as providing a speaker for an event as agreed upon. If a client believes they have suffered damages due to this breach, they may file a lawsuit.
Insurance protection: Professional Liability Insurance (also known as Errors and Omissions Insurance) can help cover the costs associated with such a lawsuit, including legal fees, court costs, and any settlement or judgment that might be awarded to the plaintiff.

Misrepresentation or false advertising: If a Speakers Bureau misrepresents the qualifications, expertise, or experience of a speaker, clients may feel deceived and choose to sue for damages.
Insurance protection: Professional Liability Insurance can help cover the expenses related to a misrepresentation or false advertising lawsuit, protecting the financial stability of the Speakers Bureau.

Intellectual property infringement: A Speakers Bureau might be sued if a speaker they provide uses copyrighted or trademarked materials without proper authorization, leading to an infringement claim from the owner of the intellectual property.
Insurance protection: Intellectual Property Insurance can help cover the legal costs associated with defending the Speakers Bureau against an infringement lawsuit and any potential settlements or judgments awarded to the plaintiff.

Negligence: If a Speakers Bureau is deemed negligent in its handling of an event, such as failing to provide adequate security or venue support, it could be held liable for any resulting damages or injuries.
Insurance protection: General Liability Insurance can help cover the costs associated with a negligence lawsuit, including legal fees, court costs, and any settlement or judgment that might be awarded to the plaintiff.

Employment disputes: Speakers Bureaus may face lawsuits from employees or contractors for issues such as wrongful termination, discrimination, or harassment.
Insurance protection: Employment Practices Liability Insurance (EPLI) can help cover the costs associated with employment-related lawsuits, protecting the financial well-being of the Speakers Bureau.

In summary, having the right insurance coverage can help Speakers Bureaus manage the financial risks associated with various types of lawsuits. By covering legal fees, court costs, and potential settlements or judgments, insurance can provide essential protection for the financial stability of the organization.

Commercial Insurance And Business Industry Classification

• SIC CODE: 7389 Business Services, Not Elsewhere Classified, 8999 Services Not Elsewhere Classified
• NAICS CODE: 711510 Independent Artists, Writers, and Performers, 711410 Agents and Managers for Artists, Athletes, Entertainers, and Other Public Figures
• Suggested Workers Compensation Code(s): 8810 Clerical Office Employees NOC

Description for 7389: Business Services, Not Elsewhere Classified

Division I: Services | Major Group 73: Business Services | Industry Group 738: Miscellaneous Business Services

7389 Business Services, Not Elsewhere Classified: Establishments primarily engaged in furnishing business services, not elsewhere classified, such as bondspersons, drafting services, lecture bureaus, notaries public, sign painting, speakers' bureaus, water softening services, and auctioneering services, on a commission or fee basis. Auctions of used cars and agricultural commodities, such as livestock and produce, are classified in Wholesale Trade.

• Agents and brokers for authors and nonperforming artist
• Apparel pressing service for the trade
• Appraisers, except real estate appraisers
• Arbitration and conciliation services
• Artists' agents and brokers, except performing artists
• Auctioneering service on a commission or fee basis
• Authors' agents and brokers
• Automobile recovery service
• Automobile repossession service
• Automobile shows, flower shows, and home shows: promoters of
• Bartering services for businesses
• Batik work (handprinting on textiles)
• Bondspersons
• Bottle exchanges
• Bronzing baby shoes
• Business brokers (buying and selling business enterprises)
• Charge account service (shopping plates) collection by individual
• Check validation service
• Cloth: cutting to length, bolting, or winding for textile distributors
• Contractors' disbursement control
• Convention bureaus
• Convention decorators
• Copyright protection service
• Correct time service
• Cosmetic kits, assembling and packaging
• Cotton inspection service, not connected with transportation
• Cotton sampler service
• Coupon redemption service, except trading stamps
• Credit card service (collection by individual firms)
• Decoration service for special events
• Demonstration service, separate from sale
• Directories, telephone: distribution on a contract or fee basis
• Divers, commercial
• Drafting service, except temporary help
• Drawback service, customs
• Drive-a-way automobile service
• Embroidering of advertising on shirts, etc.
• Engrossing, e.g., diplomas and resolutions
• Exhibits, building of: by industrial contractors
• Field warehousing, not public warehousing
• Filling pressure containers (aerosol) with hair spray, insecticides, etc.
• Fire extinguishers, service of
• Firefighting service, other than forestry or public
• Flagging service (traffic control)
• Floats, decoration of
• Florists' telegraph service
• Folding and refolding service: textile and apparel
• Fundraising on a contract or fee basis
• Gas systems, contract conversion from manufactured to natural gas
• Handtool designers
• Handwriting analysis
• Hosiery pairing on a contract or fee basis
• Hotel reservation service
• Identification engraving service
• Inspection of commodities, not connected with transportation
• Interior decorating consulting service, except painters and paper
• Interior designing service, except painters and paper hangers
• Inventory computing service
• Labeling bottles, cans, cartons, etc. for the trade: not printing
• Laminating of photographs (coating photographs with plastics)
• Lecture bureaus
• Lettering service
• Liquidators of merchandise on a contract or fee basis
• Mannequin decorating service
• Map drafting service
• Mapmaking, including aerial
• Message service, telephone answering except beeper service
• Metal slitting and shearing on a contract or fee basis
• Meter readers, remote
• Microfilm recording and developing service
• Mounting merchandise on cards on a contract or fee basis
• Music distribution systems, except coin-operated
• Notaries public
• Packaging and labeling service (not packing and crating)
• Paralegal service
• Parcel packing service (packaging)
• Patent brokers
• Patrol of electric transmission or gas lines
• Photogrammetric mapping service (not professional engineers)
• Photographic library service, still
• Photography brokers
• Pipeline and power line inspection services
• Playwrights' brokers
• Post office contract stations
• Presorting mail service
• Press clipping service
• Printed circuitry graphic layout
• Process serving service
• Produce weighing service, not connected with transportation
• Product sterilization service
• Promoters of home shows and flower shows
• Racetrack cleaning, except buildings
• Radio broadcasting music checkers
• Radio transcription service
• Recording studios on a contract or fee basis
• Redemption of trading stamps
• Repossession service
• Restaurant reservation service
• Rug binding for the trade
• Safety inspection service, except automotive
• Salvaging of damaged merchandise, not engaged in sales
• Sampling of commodities, not connected with transportation
• Scrap steel cutting on a contract or fee basis
• Shoe designers
• Showcard painting
• Shrinking textiles for tailors and dressmakers
• Sign painting and lettering shops
• Solvents recovery service on a contract or fee basis
• Speakers' bureaus
• Sponging textiles for tailors and dressmakers
• Styling of fashions, apparel, furniture, and textiles
• Styling wigs for the trade
• Swimming pool cleaning and maintenance
• Switchboard operation of private branch exchanges
• Tape slitting for the trade (cutting plastics, leather, etc. into widths)
• Tax collection agencies: collecting for a city, county, or State
• Tax title dealers: agencies for city, county, or State
• Telemarketing (telephone marketing) service on a contract or fee basis
• Telephone answering, except beeper service
• Telephone solicitation service on a contract or fee basis
• Textile designers
• Textile folding and packing services
• Time-share condominium exchanges
• Tobacco sheeting service on a contract or fee basis
• Tourist information bureaus
• Trade show arrangement
• Trading stamp promotion and sale to stores
• Trading stamp redemption
• Translation service
• Water softener service
• Weighing foods and other commodities not connected with
• Welcoming service
• Window trimming service
• Yacht brokers

Description for 8999: Services, Not Elsewhere Classified

Division I: Services | Major Group 89: Miscellaneous Services | Industry Group 899: Miscellaneous Services

8999 Services, Not Elsewhere Classified:

• Authors, Artists, and Related Technical Services, Independent
• Record Production
• Scientific and Related Consulting Services
• Music Publishing
• Actuarial Consulting
• All Other Information Providers
• Environmental Consultants

Speakers Bureau Insurance - The Bottom Line

To discover more about the specific types of speakers bureau insurance policies you'll need, and how much coverage you should have and the costs - consult with a reputable agent that is experienced in commercial insurance.

Additional Resources For Professional Services Insurance

Get informed about small business professional services insurance, including Professional liability, aka errors and omissions (E&O insurance), that protects your business against claims that a professional service you provided caused your client financial loss.

• Accounting
• Actuaries
• Answering Service
• Architects
• Armored Car
• Attorney Lawyer
• Auctioneer
• Auditor
• Background Music Services
• Bookkeeping
• Business Consulting
• Chemical Engineers
• Civil Engineers
• Claims Adjuster
• Commercial Laundries
• Commodity Broker
• Corporate Wellness
• Couriers
• Court Reporter
• Credit Bureaus
• Debt Collection Agency
• Draftsman
• Detective Agency
• Diaper Services
• Electrical Engineering
• Engineering
• Environmental Consultant
• Executive, Career & Life Coaching
• Executive Search Firm
• Expert Witness
• Financial Planner
• Financial Services
• Funeral Directors
• HR Consultant
• Inspection Bureaus
• Insurance Agents & Brokers Insurance
• Interpreter
• Mediator - Arbitrator
• Medical Billing
• Music, Drama & Dance Therapy
• Notary
• Office Machine Repair & Maintenance
• Piano Tuners
• Project Management
• Safety Consultants
• Speakers Bureaus
• Stockbrokers
• Surveyor
• Tax Preparer
• Temporary Staffing
• Title Abstractors
• Valet Parking
• Specialty Consultants
• Specialty Service Business

The professional services industry, which includes occupations such as lawyers, doctors, accountants, and architects, often deals with sensitive and complex issues that carry a high risk of liability. These professionals are expected to provide their clients with expert advice and guidance, and any mistakes or oversights can result in significant financial consequences for both the client and the professional. This is where insurance comes into play.

Business insurance provides protection against the financial repercussions of potential mistakes or accidents that may occur while providing professional services. For example, a lawyer may make an error in their legal representation that leads to a financial loss for their client. Without insurance, the lawyer would be personally responsible for covering the cost of this loss. Insurance helps to protect professionals from these types of financial burdens and allows them to focus on providing high-quality services to their clients.

In addition to protecting against financial losses, commercial insurance can also provide legal defense for professionals facing legal action as a result of their work. This can be especially important for professionals in high-stress or high-risk fields, such as doctors or architects, who may be at a higher risk of being sued for professional negligence.

Overall, the professional services industry needs insurance to protect against financial losses and legal action, ensuring that professionals can continue to provide high-quality services to their clients without the added stress and burden of potential financial consequences.

Minimum recommended small business insurance coverage: Business Personal Property, Employee Dishonesty, Accounts Receivable, Computers, Valuable Papers and Records, General Liability, Employee Benefits Liability, Professional Liability, Umbrella Liability, Hired and Non-owned Auto Liability & Workers Compensation.

Other commercial insurance policies to consider: Building, Business Income with Extra Expense, Earthquake, Equipment Breakdown, Flood, Computer Fraud, Forgery, Money and Securities, Special Floater, Cyber Liability, Employment-related Practices Liability, Business Auto Liability and Physical Damage and Stop Gap Liability.