1. A Special Presentation for SGMP James M. Goldberg

2.  It’s more than just insurance  It’s the process of selecting and implementing countermeasures to achieve an acceptable level of risk at an acceptable cost

3.  Unanticipated occurrences ◦ Accidents/negligence ◦ Criminal activity/terrorism ◦ Acts of God (e.g., weather) ◦ Other (e.g., strikes)  Statutory/regulatory ◦ Permits/licenses ◦ Americans with Disabilities Act ◦ Taxes

4.  Self-assumed (e.g., contracts) ◦ Attrition ◦ Cancellation ◦ Food and beverage minimums ◦ Other provisions

5.  Risk assessment  Risk analysis  Risk planning  Risk control  Evaluation and improvement

6.  Answer these questions ◦ What/who is exposed to loss? ◦ What could cause a loss? ◦ Who would suffer a loss? ◦ What are the consequences?

7.  Prioritize possible risks ◦ Probability of occurrence ◦ Consequences  Quantifying uncertainty ◦ Is there historical data? ◦ Comparable events? ◦ Other events in same location? ◦ Specific characteristics of this event?

8.  Draft a risk management plan ◦ Involve all stakeholders ◦ Budget ◦ Identify triggers for action ◦ Coordinate with venue ◦ Communicate to all, including attendees

9.  Risk planning produces: ◦ Pre-defined action steps ◦ Triggers for the action steps ◦ How/what to monitor in order to trigger the action steps ◦ What the contingencies are

10.  Implementation of the plan ◦ Brief all personnel prior to the event  Who/where to report problems  Location of emergency facilities ◦ Make attendees aware of what to do  Look for easily identifiable event staff ◦ Dealing with the media  Tell the whole story quickly, but accurately  Pre-selected spokesperson

11.  Post-conference debrief ◦ Underestimated risks ◦ Overestimated risks ◦ Plan for improvement  Correct for next day  Correct for next event

12.  Reduce it ◦ Don’t do dangerous things ◦ Plan exposure carefully  Transfer it ◦ Let the other guy handle it ◦ Use contract provisions  Insure it ◦ Protect financial assets (private sector)

13.  Understand the market ◦ Yours and theirs  Plan conservatively ◦ Do not assume steep growth curve  Understand what you are signing ◦ Hotel “standard” does not mean non-negotiable

14.  “If it walks like a duck…” ◦ Title of document is not important  Understand government contracting rules ◦ What you can and cannot pay for ◦ Understand hotel profit centers

15.  Attrition  Cancellation  Force majeure  Indemnification  Dispute resolution