The peak body for Australia’s live performance industry, Live Performance Australia (LPA) has called on the NSW Government to follow the Victorian Government’s move to create an events insurance scheme to give organisers of musical performances, creative festivals, business conferences and sporting and community events the confidence to plan and stage future events.
Responding to calls from the live industry to address a gap in the market and drive business confidence, the 12-month scheme, subsidised by the Victorian Government and delivered by the Victorian Managed Insurance Authority (VMIA), will insure up to $230 million of events against cancellation due to public health measures, or where events have reduced capacity due to restrictions.
The insurance scheme responds to calls from the sector to address a gap in the market and provide peace of mind.
Explaining that the live entertainment industry had been calling for Federal and state governments to establish a national insurance scheme since last year, LPA Chief Executive Evelyn Richardson yesterday welcomed the Victorian Government’s move.
Richardson advised “while we are again reactivating our theatres in NSW and Victoria, in our live music sector, major events have been pushed into late 2022 and early 2023. We have been shut down for 22 months and continued lockdowns and border restrictions have severely dented consumer and industry confidence.
“There are significant commercial risks involved in confidently restarting or rescheduling new events across the country, given the ongoing possibility of targeted public health restrictions being reimposed.” ….
Read the Full Length Article at the Australian Leisure Management Magazine.