Naman Ramachandran The U.K. government has unveiled a £750 million ($1.04 billion) insurance scheme to help music and live events affected by COVID restrictions.The Live Events Reinsurance Scheme, delivered in partnership with the Lloyds banking group, will see the government act as a reinsurer – stepping in with a guarantee to make sure insurers can offer the products events companies need.
It will support live events across the U.K. that are open to the general public, including music festivals and business events and ill cover costs incurred in the event of cancellation due to the event being legally unable to happen due to COVID restrictions.The scheme will be available from Sept.
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