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Event Center Downtown

Insurance Presentation

Event Center

on 25 April 2013

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Transcript of Event Center Downtown

Event Center
Downtown Warren Beck, Kali Bryan,
Aaron Golden, Colton Shaw Description Exposures Non-Insurance Loss Perils Losses Insurance
Recommendations No losses in four years of operations
Allows for lower premiums Operations Location Buildings and Property Property Employees Inventory Equipment Income Income Statement Uninsurable Business Risks Economic Competition Location Political Seasonal Goodwill Slip-resistant material
Flame retardant material
Fire Extinguishers
Small amounts of cash
Locked Storage Recommendations Handrails
Locks on Buildings
Experienced Bartenders Methods Theft
Pyrotechnic Display
Wind General Liability
- Common Accidents

- Overserving Concerts
Seminars and Training
Private Parties 614 North Railroad Ave.
Opelika, AL 36801 Two buildings with connecting courtyard
Primarily brick and concrete construction
33,000 sq. ft. of usable entertaining space Boiler
Kitchen Equiptment
Drink and Food Inventory
Tables, Chairs, Linens
Industrial Washer and Dryer Customers Businesses
Private Events
Greek Organizations
Very Broad Three Full Time Employees
Dale Downing - Finance
Lisa Ditchkoff - Scheduling
Chris Beck - Owner Stored Food - $1,500
Most food catered Alcohol- $50,000
Majority of inventory and sales
Beer, liquor, wine Boiler - $6,000
Provides all hot water Tables, Chairs, and Linen - $400,000
Vital for event hosting
Had to take out loan specifically for furniture Electronics - $35,000
Computers, video, and audio equipment
Computer backed up regularly
Copier is only rented equipment and is valued at $3,500 Kitchen - $10,000 Accounts Receivable
Around $15,000 at any given time
Very few problems with collection Cash
About $5,000 on hand from bar sales kept in secure location Risk of recessions such as in 2008
Less events for the Event Center Downtown to host Auburn University
Student Center
Auburn Arena Auburn University Hotel & Convention Center Downtown Opelika Can't control crime rate Therefore it's important to ensure safety Large portion of profits come from alcohol
Must stay tuned into local politics Auburn football season is one of the best times of year
Losing team results in fewer people coming to Auburn Someone gets seriously hurt at an event
Reputation is important to community
Hire security to decrease chances of someone getting hurt because of alcohol, fights, etc Building and Personal
Property (BPP) Commercial General Liability (CGL) Building
2 buildings worth $2.5 million
Potential to steal up to $50,000 Limits
$1 million per occurance
$2 million aggregate Liquor Liability Robert Trent Jones Country Club
Auburn Marriott Opelika Hotel & Conference Center
Elks Club
Auburn University Club Wedding Season Necessary endorsement
Losses could be $1 million or more Business Income and
Extra Expense Coverage Commercial Liability Umbrella Business Income
12 -18 months to rebuild
No other source of income Extra protection
Nature of the business
Full transcript