Skip to navigation Skip to main content

Latest News

£750 million Government-backed insurance scheme for the Events Industry, including Conferences & Meetings.

26 Aug 20212m read

The live events industry including the conference and meetings market is get something of a boost with the launch of an insurance scheme worth over £750 million, see here

The exact details of the scheme still seem unclear however this is what we do know:

  • The scheme will start from September 2021 and run for a year.
  • There will be no limitation on the costs which can be claimed per event.
  • Scheme participants will be responsible for covering an agreed portion of their losses (i.e. the ‘excess’). The excess will be deducted from the sum total of a claim, and the remaining costs will be apportioned between the Government and insurers in accordance with an agreed risk share arrangement.
  • Government and insurers will initially pay 95% and 5% of the costs respectively, but the Government’s share of each claim may increase to 97% and eventually 100% as more sums are paid out under the Scheme. In other words, insurers’ total exposure is capped – upon incurring a specified amount of losses, the Government will cover them in full
  • the announcement states that costs will be covered “in the event of cancellation due to [an] event being legally unable to happen due to Government Covid restrictions.”

For more details the lawyers Clifford Chance have issues quite a useful note see HERE

Since writing this blog the government has issued amended advice see HERE HOWEVER we have spoken to 2 of the insurers named on the .gov website, they say they are still waiting for information from the government, catch 22!  


Need to book a venue?

If you are looking for a venue, whatever your requirements, we can help save you time and money. Simply send us your brief and our experienced team of venue finders will do the rest.

Join our mailing list for exclusive offers, guides and news.

Easy unsubscribe at any time - Privacy Policy

About The Venue Booker

Getting you the best rates in London & the UK

With over 20 years experience in the hospitality industry you can be confident that our expertise and extensive knowledge will ensure the success of your event.

There is no charge for our service. Let us do the work for you.

Tell Me More
High Quality Venues across London & UK
Capacities up to 1,000 Delegates