Pool Re: Events Industry

(asked on 30th October 2020) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if his Department will facilitate discussions between Pool Reinsurance Company Limited and representatives of the insurance industry on potential solutions to the challenges facing the live events sector as a result of the covid-19 outbreak.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 9th November 2020

The Government is working closely with the insurers, the trade bodies and regulators to understand what more the sector can do to support firms in response to this pandemic. We also continue to gather and monitor information on how different sectors are being affected by the current crisis and the availability of cover.

We would not typically recommend drawing parallels with existing Government-backed insurance schemes given the specific design of any intervention is dependent on the size, frequency and nature of the risk being insured. Further, the Government would need to assess access to insurance alongside any other barriers to a sector re-opening, such as social distancing restrictions, when determining the appropriate course of action.

Event providers are eligible for assistance through the wider Government support package if they are in financial difficulty. We continue to keep the package under close review.

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