Australian live music industry calls for British-style insurance

A host of Australian music industry bodies have called on the government to introduce an insurance scheme similar to the UK’s, which would see the Australian live music industry financially supported if festivals were to be canceled this year. summer.

Bodies include APRA AMCOS, ARIA, PPCA, LPA, LEIF, and AFA, with the CEO of ARIA and PPCA, Annabelle Herd, explaining:

“The UK-backed program is a model for Australian Commonwealth, State and Territory governments to give much-needed confidence to our live music industry following waves of cancellations and loss of income. We need the confidence that this provides. Without such a project, it will be a very calm and sad summer. “

The insurance would be modeled on the Live Events Reinsurance Program which is in place in the UK, and is a partnership between the UK government and Lloyd’s of London insurers, which sees government guarantee policies issued by commercial insurers for live events.

Also commenting on the program, AFA GM Julia robinson Explain :

“An insurance plan will ensure that the $ 200 million in RISE funding along with state and territory initiatives deliver the maximum benefit to the country. The government does not want these investments to be wasted, and neither does the industry.

Currently, the Australian film industry is the only industry to receive government reinsurance via the $ 50 million Temporary interruption fund, which was announced in June 2020.

The Australian music industry calls on the government to establish an insurance scheme that can enable live music events to return to viability this summer, after a devastating 2020 for the Australian industry.

Image credit: Ultra Australia