Insurance costs trim market to two days
IFAM says in letter to artists that it lacked liability coverage
Sandra Brice, director of events and marketing at the Santa Fe Railyard Community Corp., was at the Railyard on Friday handing out fliers to artists explaining why the Indigenous Fine Art Market will be only two days this year, rather than the three advertised.
According to the flier, the market had not obtained adequate liability insurance protecting the city, the Santa Fe Conservation Trust and the corporation that manages the Railyard for the city.
Brice said the problem was discovered Tuesday morning, at the last minute, and confirmed by the insurance company named on the certificate.
The explanation differed from the one that a market spokesman, Doug Miles, had given to The New Mexican on Thursday. Miles had said that the city fire marshal was worried about crowd sizes and had said the market would need a permit authorizing a larger event.
However, a “Dear Artists” letter distributed Friday by the Railyard corporation said it was an insurance issue. “Rather than cancel the event permit entirely, we worked very diligently with IFAM management and a new insurance company directly in order to find a way for IFAM to adequately insure the event.”
According to the letter, insurance industry standards for special events are determined by total attendance over the course of the event.
Fire Department estimates for the market ranged from 15,000 to 20,000 people over three days, based on the two previous markets, the letter said.
The only policy that could be obtained on short notice was for a maximum attendance of 12,000 people. The insurance company agreed to write a policy for a two-day event with attendance of 12,000 or less, the letter said.
The corporation also stressed its support for the market, which it called a “wonderful addition to Santa Fe, the Railyard” and most importantly for artists.
Brice said that many of the artists sell out by Friday anyway.
The only policy that could be obtained on short notice was for a maximum attendance of 12,000 people.