Staging Failures May Prompt Non-Specialized Insurers to Leave Event Industry
SANTA ANA, CA — Recent staging failures, such as this year’s Radiohead stage collapse in Toronto that left one dead and three injured could have serious ramifications for the live event industry, according to Scott Carroll, executive vice president and program director of Take1 Insurance, part of the U.S. Risk Insurance Group, and a specialist insurance provider for the entertainment industry. The Toronto event could renew calls for stricter regulations for stage construction and engineering, potentially convincing less experienced insurance providers to abandon the industry.
And with fewer providers, there is less competition, which could lead to higher premiums.
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