PARLIAMENTARY WRITTEN QUESTION
Pool Re: Events Industry (30 October 2020)

To ask the Chancellor of the Exchequer, what discussions Pool Reinsurance Company Limited has had with live events insurers on the lack of available contingency insurance during the covid-19 outbreak.

Asked by:
David Mundell (Conservative)

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.

Answered by:
John Glen (Conservative)
9 November 2020