Cautious welcome from the East of England Arena for Government backed insurance scheme
The East of England Arena has today welcomed the Government’s launch of a £750m insurance scheme designed specifically to help restart the events industry, which was announced on Thursday evening, August 5, 2021.
The scheme is reported to cover specific costs in the event of cancellation due to the event being legally unable to happen due to Government Covid restrictions, as the Chancellor of the Exchequer, Rishi Sunak, explained in the announcement last night.
Venue director, Jason Lunn, commented, “We have been asking for insurance against enforced closures of any events so that event organisers can mitigate risks in restarting their event programmes. It is unfortunate that this comes too late for most of the summer events and festivals. Nevertheless, this will be crucial in building a solid calendar of events for the Autumn and Christmas seasons.”
The Live Events Reinsurance, as it has been named, will cover events that are open to the general public, such as music festivals and business events.
“We welcome any steps that will give event professionals the confidence they need to restart the events industry, launch new shows and bring back a semblance of normality to this sector,” concluded Lunn.