Live Events Reinsurance Scheme

(asked on 8th September 2021) - View Source

Question to the Department for Digital, Culture, Media & Sport:

To ask the Secretary of State for Digital, Culture, Media and Sport, what proportion of the events industry his Department estimates will avail itself of the Live Events Reinsurance Scheme.


Answered by
Caroline Dinenage Portrait
Caroline Dinenage
This question was answered on 13th September 2021

DCMS has worked closely with representatives from both the events and insurance industries over recent months to develop the Live Events Reinsurance Scheme. Details of the scheme - announced on 5 August with supplementary information released on 6 September - were designed to both provide the necessary confidence and reassurance to allow event organisers to plan and invest in live events over the coming year, whilst managing exposure and suitably protecting the taxpayer.

Where possible we sought to work in partnership with insurers and align with market practice. Through engaging with the sector throughout the design of the scheme we have been able to create a scheme which will play a vital role in helping the live events industry to rebuild with confidence. Numerous organisations - including UK Music and Live Nation - recognised the important contribution the scheme will make in enabling activity to go ahead when it was launched last month.

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