A reputable reception hall, like any other entertainment venue, should be able to provide you with a certificate of insurance upon request. Also, be sure they meet any requirements demanded by the local authorities, particularly if you plan to serve alcohol.
If you have any doubts at all about a reception hall you're considering, don't hesitate to check with the Better Business Bureau to see if the management has received any complaints. It's better to be safe than sorry, and all it takes is a quick call.