Australia and NZ announce first insurance schemes
Victoria announces a 12-month scheme that will insure up to $230m of events while NZ debuts nationwide cancellation cover for large events
News By IQ | 15 November 2021
After more than 18 months of lobbying, Australia and New Zealand have announced country-first insurance schemes for live music. In Australia, the Victorian government yesterday (14 November) announced plans to launch a 12-month pilot scheme that will insure up to AUS$230 million (€148m) of events.
Subsidised by the government and delivered by the Victorian Managed Insurance Authority (VMIA), the cover will insure concerts, festivals, sporting events and conferences “against cancellation due to public health measures, or where events have reduced capacity due…