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Insurance policy for Conference and Events Industry: a comparison between United Kingdom and Greece - Literature review Example

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In recent years, the international events and conference industry has become a dynamic place, where the development of new ideas and concepts follows globalization trends. The international events industry is ever-changing, but while some countries excel as the major…
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Insurance policy for Conference and Events Industry: a comparison between United Kingdom and Greece
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Insurance policy for Conference and Events Industry: a comparison between United Kingdom and Greece

It goes without saying that public events and conferences are associated with numerous risks, including life risk, property damage risks, event cancellation possibilities, and even terrorism threats. Therefore, event and conference insurance is becoming a fundamental driver of growth in the events and conference industry. The United Kingdom has a well-developed network of event and conference insurance options and can serve a role model for Greek conference and event organizers to follow. The Greek insurance market must provide event and conference industry providers with specialized insurance schemes, which will meet the specific needs and requirements of event organizers.
In contemporary organizations, crises are not uncommon. A broad range of crises impacts organizations and affects their performance. Although crises differ substantially across organizations, they display a number of common elements (Pearson & Clair 1998). Organizational crises are extremely ambiguous (Pearson & Clair 1998). They are characterized by low probability of occurring; nevertheless, even a single organizational crisis may pose a serious risk to the future performance within the organization (Pearson & Clair 1998). Organizational crises are leave little time for reaction and response and often come as a surprise to organizations and stakeholders (Pearson & Clair 1998). Finally, any organizational crisis always presents a dilemma of what will help to improve the situation and what will make the situation even worse (Pearson & Clair 1998). In light of these characteristics, an organizational crisis can be defined as an event, which has a low probability of occurrence, heavily impacts organizational performance and stakeholders, threatens the future of the organization’s survival, and generally occurs in the atmosphere of ambiguity in terms of the cause, consequence, and instruments of resolution (Pearson & Clair 1998). In ... Read More
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