Certified Meeting Professional (CMP) Practice Exam

How can exhibitors insure their property during an event?

1. Through a mandatory insurance program

2. By obtaining insurance from the venue

3. Through a voluntary basis of insurance

4. By sharing insurance with event organizers

The correct answer is: Through a voluntary basis of insurance

Exhibitors can insure their property during an event through a voluntary basis of insurance, which allows them to choose whether or not to purchase coverage specifically tailored to their needs. This flexibility is essential as different exhibitors may have varying levels of risk based on the value of their materials, equipment, or products they are displaying. A voluntary insurance option empowers exhibitors to assess their own situation and decide the level of coverage they require, whether that means insuring high-value items or opting for a more basic policy. It can also help control costs, as exhibitors can select coverage limits and deductibles that make sense for their budget and risk tolerance. Event venues may have their own insurance policy, but it typically covers the venue itself and does not extend individual coverage to each exhibitor, thus making the exhibitors' need for separate insurance paramount. Unlike a mandatory insurance program, which might not be influenced by individual needs, a voluntary basis gives exhibitors freedom of choice based on their specific circumstances.