Live Events Reinsurance Scheme update (19 November)

A useful meeting was held with the DCMS team on the Live Events Reinsurance Scheme at which further clarification on the Scheme’s operation was sought. As a result an update to the Q&A can be downlaoded below together with other information below:

• Here are some links related to the scheme which you are welcome to share with your members and put on your websites:
  o BIBA's page with links to brokers
  o BIBA (British Insurance Brokers Association) email contact (This email address is being protected from spambots. You need JavaScript enabled to view it.) and LIIBA (London & International Insurance Brokers Association) email contact (This email address is being protected from spambots. You need JavaScript enabled to view it.) for anyone who doesn't have a broker and wants a quote.
  o Scheme Administrator's email (for queries related to the scheme) This email address is being protected from spambots. You need JavaScript enabled to view it.
  o Scheme Rules published on gov.uk

• Below (avaialble to downlaod) are the latest FAQs which are to be further updated and shared weekly. More questions and answers will be added that will help inform organisations and individuals looking to purchase cover. Note the last question on the FAQ which refers to who can purchase cover. This is far wider than currently perceived. For example individual exhibitors, venues and suppliers can take out cover under the Scheme.

• We would be grateful if you could send through a list of questions you think should be included on this FAQ and which your members need answers to. Please also share this FAQ across your membership.

• Events that have purchased policies to date range from an amateur theatre group with a budget of £3,000 to a trade show with a budget of £2M. Audience sizes also vary greatly from 500 to 1M plus. As more policies are written, we will have a clearer picture of who is accessing the scheme.

• DCMS is happy to join a call with your members to summarise the scheme and answer questions relating to it. Please feel free to invite us along.

• Please encourage those members who are keen to get coverage through the scheme to contact their brokers and nudge their insurers to join the scheme if they haven't already done so. To note that, as of today, Hiscox just joined the scheme as the 6th participating insurer. Announcement on Twitter here

• Arrangements are also being made for a member of the DCMS team to present at the next BVEP meeting on the 9th December.

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