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<p>For businesses within the live events sector, the Live Events Reinsurance Scheme
supports events that the general public are able to purchase tickets to - such as
music festivals, sporting and business events - that are at risk of being halted or
delayed due to an inability to obtain COVID-19 cancellation insurance. Over £800 million
in cover will be available to purchase alongside standard commercial events insurance
for an additional premium. Cover is being bought by events across the UK. This intervention
supports the UK’s economic recovery from the COVID-19 crisis by giving events across
the country the confidence they need to plan for the future.</p><p> </p><p>This is
a world-leading insurance scheme, backed by a number of prominent insurers in the
Lloyd’s market, including Arch, Beazley, Dale, Hiscox and Munich Re, with few countries
offering this kind of cover. It builds on our existing offering of support to the
industry, including the £500 million Film and TV Production Restart scheme.</p><p>
</p><p>The government announced last month that it is making available an additional
£30m through the nearly £2 billion Culture Recovery Fund (CRF) to increase the Emergency
Resource Support currently available for cultural organisations to apply for. So far
more than £1.5 billion has been allocated to around 5,000 individual organisations
and sites through the CRF including theatres, orchestras, dance and music venues,
supporting live events and performance.</p>
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