The entertainment industry in Australia which comprise of live music/ performance and the Australia festival association have called for the adoption of a government backed insurance scheme to provide certainty for the live music and entertainment sector.
The call is coming on the heels of the covid-19 pandemic which has led to boarder closures, capacity restrictions and live events cancellations which have continue to devastate the sector. A recent survey shows 60% of correspondents within the sector saying they have recently looked for jobs in other sectors just to survive. The entertainment industry in Australia wants the government to adopt an insurance scheme. The Uk live events reinsurance scheme by the uk government is a partnership between Lloyds of London where the government guarantees policies issued by commercial insurers to live events that are open to the public including business events and festivals.
There are similar government backed insurance and business interruption funds established for the live music and entertainment sectors in Denmark, Germany, Norway, Belgium etc.