With regards to the Participants exclusion:
Due to our policy being able to insure many types of events it was necessary to add this form.  The purpose is to exclude people that have an operation as a separate business that the insured has contracted with or the employees of that business.  This form also provides the exclusion for the participants of sporting events that are engaging in a dangerous situation knowingly.  If you read closely every thing described in the participants exclusion can be placed into one of the two situations previously mentioned above.

When Colony insures a wedding event the typical exposures expected would be any guest of the wedding.  Since this policy is actually written on "Broad form General Liability coverage form" the policy could also pick up exposures form people or other entities other than the guests as well.