Government-backed insurance scheme to give support to events industry

The live events sector is set to get a boost with a government-backed insurance scheme worth over £750 million, which will help them plan events with confidence through to next year, the Chancellor Rishi Sunak announced last week.

 As the economy reopens with the lifting of Covid restrictions, getting the right kind of insurance is acting as a barrier for some events organisers so the government has partnered with Lloyd’s to deliver the Live Events Reinsurance Scheme as part of the Plan for Jobs. The scheme will see the government act as a ‘reinsurer’ – stepping in with a guarantee to make sure insurers can offer the products events companies need.

See: Government-backed insurance scheme to give boost to events industry – GOV.UK (www.gov.uk)

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