Event insurance and liability fit into a single legal contour: the insurance contract compensates the insured event, liability insurance frees the organizer toward third parties, and the strict liability for the increased danger of a structure charges the owner of the venue with a risk that cannot be contracted away. On this page we explain how these seven norms work together. The seven norms lock into a single defensive frame.
The Insurance Contract — Concept, Notice and Limits
By the insurance contract the insurer must compensate the policyholder the damage caused by the occurrence of the insured event, in accordance with the terms of the contract; in insurance for a fixed insured sum the insurer must pay the insured sum or perform another promised act; the policyholder must pay the premium. The procedural details matter as well: on learning of the occurrence of the insured event the policyholder must immediately notify the insurer; the insurer may demand any information necessary to establish the event or the scope of the obligation; and the insurer performs its obligation after the event is established and the amount of compensation determined. The limit norm is decisive for an event: the insurer compensates damage only within the insured sum — insuring a stadium for a small sum will not cover a large loss, and the part above the limit remains on the organizer. The insured sum should therefore rest on the event's real risks — the number of spectators, the venue's designation, the technical load — and not merely on saving premium. The value of the policy is measured by the completeness of cover.