Risks Assessment
Minor Incident
Minor incidents are the incidents that can be dealt with locally. In case of such incidents, people must inform the staff members, and those must deal with the incident and inform the responsible securities via the radio transmitter. The staff members also must stay at the location and wait until all the needed resources to resolve the problem are provided (Ergu, Kou, Shi, & Shi, 2014).
Major Incident
In case of major incidents, people must immediately inform the personnel and the securities, and those must inform the head of security and the project manager providing all the information about the incident. Then the project manager must assess the situation, make sure that all the necessary resources and the first aid are provided, and decide whether the evacuation is necessary. In case of evacuation, the project manager, or any other staff member must tell people to stay calm and proceed to the emergency exit (Rausand, 2013).
Event Liability Insurance
Since this event is big and includes the basketball game and the concert, and there many types of potential risks associated with the event, it requires different types of insurance.
Insurance Policy
There are chances that the regular or single insurance program or policy will not be able to cover all the possible exposures (Hufeld, Koijen, & Thimann, 2016).
Thus, apart from general liability insurance, there are special kinds of insurance that must be taken into account (Kunreuther, 2015). All the risks associated with this game can be divided into three types, and, consequently, there are three main types of insurance that will be needed to cover these risks:
- Health Insurance.
- Property Damage Insurance.
- Event Cancellation Insurance.
Insurance Assessment
Suppliers and Insurance Costs
Suppliers/Contractors
- Dubai National Insurance & Reinsurance P.S.C. will provide health insurance (including personal and accident insurance) for staff, athletes, celebrities, special guests, and visitors.
- Premium Costs: 65,000 AED (for capacity in 5,000 people/2 days).
- Dubai Insurance will provide general liability insurance, property damage insurance, and event cancellation insurance.
- Premium Costs: 120,000 AED.
Emergency Healthcare Support
- Dubai Hospital.
- Al Zahra Hospital Dubai.
- Rashid Hospital.
There are also other types of insurance which need to be addressed:
- Game ticket insurance.
- Workers compensation coverage.
- Commercial vehicle coverage for vans, trucks, and buses that are ordered for business purposes.
These insurance costs will be covered by general liability insurance (Kunreuther, 2015).
References
Ammon, R., Mahoney, K., Fried, G., Arkoubi, K. A., & Finn, D. (2015). Roar of the crowd: Noise-related safety concerns in sport. Journal of Legal Aspects of Sport, 25(1), 10-26.
Bahr, N. J. (2013). System safety engineering and risk assessment: A practical approach (2nd ed.). New York, NY: Taylor & Francis Group.
Cappellini, A., Fagiani, R., & Vanali, M. (2015). Serviceability assessment of two different stadium grandstand during different events. Dynamics of Civil Structures, 2(1), 299-310.
Chemweno, P., Pintelon, L., Horenbeek, A. V., & Muchiri, P. (2015). Development of a risk assessment selection methodology for asset maintenance decision making: An analytic network process (ANP) approach. International Journal of Production Economics, 170(2), 663-676.
Ergu, D., Kou, G., Shi, Y., & Shi, Y. (2014). Analytic network process in risk assessment and decision analysis. Computers & Operations Research, 42(3), 58-74.
Hufeld, F., Koijen, R. S., & Thimann, C. (Eds.). (2016). The economics, regulation, and systemic risk of insurance markets. Oxford, UK: Oxford University Press.
Kunreuther, H. (2015). The role of insurance in reducing losses from extreme events: The need for public–private partnerships. The Geneva Papers on Risk and Insurance-Issues and Practice, 40(4), 741-762.
Rausand, M. (2013). Risk assessment: Theory, methods, and applications. Hoboken, NJ: John Wiley & Sons.