Bluesfest losses tipped to top $10m as industry begs for live event insurance

, according to industry body Live Performance Australia, leading to renewed calls for the federal and state governments to underwrite insurance for the sector.

Bluesfest had been scheduled to run over the Easter long weekend, from Thursday to Monday, with attendances capped at 16,500 per day - around 50 per cent of its normal capacity. On Wednesday, following a positive COVID result for a Byron Bay man, the event was cancelled by NSW Health Minister Brad Hazzard.

That view was echoed by Jeffrey McNally, managing director of Insured Creativity. “They’ll be going, ‘Oh my God, we thought we were clear’,” he said. “It’s very hard to risk-manage that. Peter had a really good COVID Safe plan and it still didn’t help him.”Mr McNally said the global cost to insurers of live events cancelled due to COVID was estimated to be in the region of $US5 billion, with the premium pool valued at about one-tenth of that.

The live industry wants something similar, and is understood to have presented a proposal to federal, state and territory governments last November. Its Live Entertainment Business Interruption Fund would be valued between $100 million and $500 million, and run for three years, to allow the $5.6 billion sector to restart with confidence.

karlkwin Like say, a Govt Insurance Office? Didn't we have some of those before we have them cheaply to a gaggle of parasites? SGIO GIO

karlkwin Bluesfest took a chance and lost unfortunately. Would have taken the profits the people shouldn't cover their losses.

karlkwin Why should tax payers foot the bill? Event organisers run the risk and take the profit. The loss of economic activity in the area likely runs to $100m, but again, that’s not for tax payers to pay for.

karlkwin We need a national disaster insurance fund

karlkwin Berejiklian’s knee-jerk reaction is unforgivable I can only surmise she doesn’t have confidence in NSW’s contact tracing system nswpol

karlkwin Anyone putting on an event while Covid is still out there knows the risk.

karlkwin Morrison has to compensate the Bluesfest organisation due to his incompetence in the vaccine rollout

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Bluesfest losses tipped to top $10m as industry begs for live event insuranceThe music industry is calling for the federal and state governments to come together to underwrite live events that can no longer get COVID cover as part of their insurance. BluesFest covid19 coronavirus why should they get preferential treatment? Any compensation should be funded by the government making these decisions, in this case the NSW government The organiser took a punt , rolled the dice and lost. He knew the pandemic was far from over, that buggerall pple in QLD and NSW have even had their 1st covid vax jab , and federal govt still allows expats to return despite the situation o/seas being out of control. Tuff luck.
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