What occasions want is a authorities insurance coverage coverage, Sector says
Coldplay bassist Guy Berryman and ex-Dragon’s Den star Sarah Willingham have called on the government to support an event insurance scheme similar to the one already in place for film and television production.
Economic heavyweights like Links of London founder John Ayton and Notonthehighstreet founder Holly Tucker signed the letter to Small Business Secretary Paul Scully asking the government to seriously consider an insurance system that would give organizers 70 percent Your costs will be reimbursed if an event is canceled due to Covid-19.
It’s about an events industry like weddings and music festivals, which, according to Prime Minister Boris Johnson itself, is worth £ 90 billion and employs 700,000 people in 25,000 companies in the UK – none of which have run a sector-specific emergency coronavirus business support in contrast to the hotel industry.
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The group, led by Hugo Campbell and Digby Vollrath, founders of the event planning website Feast It, said an insurance scheme for events slated for April 1 next year would give organizers the confidence to plan and promote gatherings.
Almost two-thirds of event providers surveyed by Feast (61 percent) said they would work without further government support, having lost an average of £ 83,000 in sales to date.
The survey found that the events sector will lose 413,000 jobs by the end of this year unless it receives immediate government support.
In July, the government announced a £ 500 million emergency coronavirus emergency production fund to cover £ 1 billion in film and television production, which has given producers the confidence to resume filming. The film program will cover up to 70 percent of production costs if filming is stopped due to the pandemic.
What the events sector needs is the same, wrote the signatories.
In October, conference and event venues such as Olympia, Excel London and the NEC wrote to the Prime Minister and Chancellor warning of the “existential threat” to the industry, which is one of the few sectors that is still completely closed.
Further information on event insurance
Insurance for a wedding and event business