UK music festivals and other live events must be covered by government-sponsored insurance if they are canceled due to Covid.
If the event cannot be legally held due to government regulations from Covid, it will start next month with a budget of £ 750m to cover cancellations.
More than half of all music programs were canceled this summer.
Several programs, including the Boomtown and Womad programs, cited the inability to purchase cancellation coverage as a reason for their decision.
The new program calls for insurance companies to cover live events and the government will agree to act as reinsurers to ensure all payments are funded.
Rep. Julian Knight, chairman of the House of Commons Special Committee on Culture, said, “While it’s a shame it’s too late for some this summer, this program will give confidence that the industry needs to plan and invest in the future. Events.
Promoter Live Nation UK called it a “life-saving intervention” that would give the industry “assurance”.
However, there is a concern that it is only worth it if the events in another block are banned. The musicians union said the “main problem” with the program was that it didn’t cover events that would not be profitable if social distancing came back into effect.
The Independent Festivals Association praised the program but said it “does not cover a festival that is forced to reduce or cancel capacity due to the reintroduction of social distancing restrictions”.
Greg Parmley, executive director of the live industry association, said the show was “good news” but “the devil is often in the details”.
He told BBC Radio 4’s Today show that the association wanted to work with the government to ensure that cancellations due to the reintroduction of social distancing are covered, which made an event economically impractical and forced artists to retreat after the virus to isolate.
He added that these situations were “far more likely” to result in events being canceled in the coming months than any other block.
“With the economy reopening, I want to do everything in my power to help event planners and small businesses plan with confidence for the year ahead,” he said.
Culture Secretary Oliver Dowden called it “the next big step” for the live events industry and said it would give organizers “the confidence they need to plan for a better future”.
The development comes after £ 1.8 billion community funding has been allocated to artisanal sites affected by the disease.
Jamie Njoku-Goodwin, Head of the UK Music Group of Companies, said: “We are grateful to the government for listening to local calls and paving the way for market failures in the insurance industry.”
Michael Kill, President of the Night Industries Association, said: “I am pleased that the government has decided to put in place an event insurance system in the internal affairs program area. Take appropriate measures to protect trade and services through associations. “
The staff said that the money was “minimal” and that the sponsors would always be a threat when organizing the event.
Shadow culture author Jo Stevens described the plan as “a solution that doesn’t solve the problem.”
The government has also published materials in support of the program development program, the program association, and the organizers of the Southampton International Boat Show.
Event companies will be able to purchase insurance starting next month, and that plan will continue until September 2022.
But the events industry is not the only industry currently seeking government support.
The travel industry urges investors to expand their rapid job protection support plans.
“Work in danger”
Tim Alderslade, UK Airlines Group CEO, said that despite recent changes to the UK traffic light system, this was one of the “few areas that have not been able to restart successfully”.
The government has announced that it will offer an “unprecedented package” on job security and trade and the aviation sector will receive up to £ 7 billion by the end of September.