Due to the Covid pandemic, the government has opened a Reinsurance Scheme that sums up around £800 million and will cover many live events against the cancellations stemming.
This live event sector has been opened to support small businesses and self-employed that totals around 700,000 which is worth more than £70 billion annually to the UK economy. To deliver the scheme, they have partnered with Lloyd’s Market Association as part of its jobs plan.
This Live Events Reinsurance Scheme will support live events such as conferences and business events, concerts and festivals that will be at risk of being cancelled or delayed due to an inability or cancellation of Covid-19 insurance. The scheme will be available from 22nd September 2021 until the end of September 2022.
Read more on https://www.gov.uk/government/news/800-million-reinsurance-scheme-officially-opens-to-help-give-festivals-conferences-and-live-events-cover-to-plan-with-confidence?utm_medium=email&utm_campaign=govuk-notifications&utm_source=cb3d48f8-b166-4c31-923a-ead56b53ed70&utm_content=daily