Reinsurance quiz

Question 1 of 8

Imagine that you are an underwriter who has been asked to appraise the risk of bodily injury and property damage at the Love Parade, Berlin, under the organisers' liability insurance policy.

Question: Which of the following scenarios would have the greatest loss potential in the quotation (risk appraisal)?

Scenario 1: during assembly and disassembly of the structures needed for the parade and during the parade itself, the vehicles involved could damage street lamps, traffic signals and signs, etc.

Scenario 2: some of the event's attendants might rampage through Berlin's transportation system on their way to or from the Love Parade and damage an underground railway train in the process.

Scenario 3: a fire could break out on one of the parade floats, which might not be extinguishable right away owing to inadequate loss prevention measures (fire extinguishers).

Scenario 4: some of the attendants of the event might get involved in acts of violence such as knifings and brawls.

Scenario 5: the Love Parade might be cancelled because of a storm warning the day before the event – the cost arising from cancellation would be enormous, e.g. for food and beverages that can no longer be cancelled.

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