‘Peace of mind’ for events industry under State Government’s restart package and Australian-first insurance scheme

As Victoria emerges from COVID-19, the State Government has bolstered the confidence of organisers of creative, sporting, business and community events to plan and stage events with an interruption insurance scheme and restart package.

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Subsidised by the Government and delivered by the Victorian Managed Insurance Authority (VMIA), the Australian-first, 12-month COVID-19 event insurance product will insure up to $230 million worth of events against cancellation due to public health measures, or where capacity limits are reduced due to restrictions.

The scheme comes in response to calls from the hard-hit sector to bridge a gap in the market and provide peace of mind.

Gallagher Business Development Manager, National Sales, Nathan Rayner said, “Most event cancelation insurance policies do not cover cancellation due to COVID-19 government restrictions.

“We all know the effort and expense that goes into planning an event. The COVID-19 cancellation insurance provides certainty for businesses and community organisations to host events as Victoria re-opens.”

Victorian Minister for Creative Industries Danny Pearson announced the insurance scheme simultaneously with a $20 million Live Music Restart package. Created to reignite Victoria’s live music sector, the package consists of three components, targeting different aspects of the music industry, including:

  • An $8 million program that will ensure music venues are able to recruit and train new staff, invest in COVIDSafe infrastructure and get more musicians and industry professionals back to work.
  • $8 million to help music festivals and events recover from the uncertainty and impact of rescheduled and cancelled events due to the pandemic.
  • A further $4 million will bring music performances to the CBD and inner-city, complementing a previously announced $5 million for regional and outer-suburban events.

Minister Pearson said, “We know how much work and preparation goes into the staging of a live performance event and how many people are impacted when an event has to be cancelled – that is why we are providing this tailored support.

“Whether you work on stage or behind the scenes, if you have had an event cancelled during the recent lockdowns, I encourage you to apply for this second round of grants.

“We value our live performance sector and know that it has been an incredibly challenging period – so we listened to industry feedback and updated the guidelines to reach more people.”

The Live Music Restart package has been developed following consultation with the music industry and adds to a range of business support provided to the sector during the pandemic, through initiatives such as the Licensed Hospitality Venue Fund, Sustaining Creative Workers, Music Works and the Live Performance Support Program.

Funding will be available through Creative Victoria, with application details to be announced soon.

For more information on the COVID-19 Events Insurance or to register your interest, visit https://www.vmia.vic.gov.au/event

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