UK government steps in to save UK music festivals
UK music festivals and other live events affected by Covid-19 will be protected by a government-backed £ 750million insurance scheme.
The new plan will begin next month and end in September 2022, to cover cancellation fees if events cannot legally occur due to government restrictions.
MP Julian Knight, Chairman of the House of Commons Culture Select Committee, said: “While it is a shame that it is too late for some this summer, this program will give the industry the confidence that needs to plan and invest in future events. “
More than half of this summer’s music festivals have been canceled, with Boomtown and Womad citing the inability to get adequate insurance as a factor behind the canning of their events.
In the new program, insurance companies will cover live events, but the government will guarantee that all payments are funded.
The announcement was widely endorsed by the live events industry, which has repeatedly called for help dealing with cancellation issues.
Jamie Njoku-Goodwin, Head of Business Organization UK Music, said: “We are extremely grateful to the government for listening to industry appeals and addressing market failures in the insurance industry.
However, some groups are concerned that this will not cover festivals and events that would become unprofitable or have to be canceled if social distancing returned or if artists were forced to self-isolate after coming into contact with Covid-19.
Greg Parmley, managing director of the industry association Live, told BBC Radio 4’s Today program: “The devil is very much in the details”.