Insurance for Pandemic in the future
This seems to be top of everybody’s list for consideration. Will we go ahead without insurance? How will we cover such things as complete closure if government decide that the pandemic has overtaken us again?
In association with AIF, EIF, LIVE and many other organisations we have made major approaches to MPs, Ministers and parliament to try and get government interested in underwriting such an insurance. If this is achieved it is likely that premiums will be in the order of 7% of gross turnover, i.e. a very hefty amount.
A big premium, but you could easily clear the figure by selling tickets now at a 15% VAT saving. Against which a festival organiser must assess whether they can afford to have their event cancelled if pandemic is either still upon us or could be in the future. At the moment the Treasury are not showing much interest, but thanks to some lobbying through the re-organisation of the APPG (an AFO principal action) Theresa Villiers, MP has asked not just one but several questions of the Minister for Digital and Culture, Caroline Dinenage MP, whether serious consideration was being given to the events industry’s need for a government backed insurance scheme. We await further discussions.
This demonstrates the power of AFO. It was through our drive that the APPG was reassembled, that Theresa Villiers became the chair and therefore asked all the questions. There is no doubt at all that an APPG is the best route into parliament, ministers and government circles.Previous Story: 2018 NOEA Awards winners announcedNext Story: Get Your Hair Cut
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