UK Government-backed insurance scheme to give boost to events industry

The UK Government has partnered with Lloyd’s to deliver the Live Events Reinsurance Scheme. The scheme will see the UK Government act as a ‘reinsurer’ – stepping in with a guarantee to make sure insurers can offer the products events companies need.

This scheme will support live events across the UK that are open to the general public – such as music festivals and business events. It will cover costs incurred in the event of cancellation due to the event being legally unable to happen due to covid restrictions.

The scheme will be available from September 2021 and run until the end of September 2022. 

For further information please visit GOV.UK.

Source: Business Wales News https://businesswales.gov.wales/news-and-blogs/news

 

Posted on: Monday 23rd August 2021