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1353976

registered interest
date	08/09/2021
answering body	Department for Digital, Culture, Media and Sport
answering dept id	10
answering dept short name	Digital, Culture, Media and Sport
answering dept sort name	Digital, Culture, Media and Sport
hansard heading	Live Events Reinsurance Scheme
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Digital, Culture, Media and Sport, what proportion of the events industry his Department estimates will avail itself of the Live Events Reinsurance Scheme.
tabling member constituency	Caithness, Sutherland and Easter Ross
tabling member printed	Jamie Stone
uin	45236
answer	answer is ministerial correction date of answer 13/09/2021 answer text <p>DCMS has worked closely with representatives from both the events and insurance industries over recent months to develop the Live Events Reinsurance Scheme. Details of the scheme - announced on 5 August with supplementary information released on 6 September - were designed to both provide the necessary confidence and reassurance to allow event organisers to plan and invest in live events over the coming year, whilst managing exposure and suitably protecting the taxpayer.</p><p>Where possible we sought to work in partnership with insurers and align with market practice. Through engaging with the sector throughout the design of the scheme we have been able to create a scheme which will play a vital role in helping the live events industry to rebuild with confidence. Numerous organisations - including UK Music and Live Nation - recognised the important contribution the scheme will make in enabling activity to go ahead when it was launched last month.</p><p> </p> answering member constituency Gosport answering member printed Caroline Dinenage grouped question UIN 45237 question first answered 13/09/2021 16:51:43 answering member 4008 label Biography information for Dame Caroline Dinenage
tabling member	4612 label Biography information for Jamie Stone

1353977

registered interest
date	08/09/2021
answering body	Department for Digital, Culture, Media and Sport
answering dept id	10
answering dept short name	Digital, Culture, Media and Sport
answering dept sort name	Digital, Culture, Media and Sport
hansard heading	Live Events Reinsurance Scheme
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Digital, Culture, Media and Sport, what (a) method, (b) calculations and (c) evidential basis his Department used to agree with the Chancellor of the Exchequer a five per cent premium for the Live Events Reinsurance Scheme; and what assessment was made of the potential merits of similar models that have a zero per cent premium.
tabling member constituency	Caithness, Sutherland and Easter Ross
tabling member printed	Jamie Stone
uin	45237
answer	answer is ministerial correction date of answer 13/09/2021 answer text <p>DCMS has worked closely with representatives from both the events and insurance industries over recent months to develop the Live Events Reinsurance Scheme. Details of the scheme - announced on 5 August with supplementary information released on 6 September - were designed to both provide the necessary confidence and reassurance to allow event organisers to plan and invest in live events over the coming year, whilst managing exposure and suitably protecting the taxpayer.</p><p>Where possible we sought to work in partnership with insurers and align with market practice. Through engaging with the sector throughout the design of the scheme we have been able to create a scheme which will play a vital role in helping the live events industry to rebuild with confidence. Numerous organisations - including UK Music and Live Nation - recognised the important contribution the scheme will make in enabling activity to go ahead when it was launched last month.</p><p> </p> answering member constituency Gosport answering member printed Caroline Dinenage grouped question UIN 45236 question first answered 13/09/2021 16:51:43 answering member 4008 label Biography information for Dame Caroline Dinenage
tabling member	4612 label Biography information for Jamie Stone