After a swathe of cancelled music festivals, major promoters are pledging to get Australian punters back partying in 2021.Music festival promoters are grappling with major losses after COVID-19 cancelled events
By the time of its last-minute cancellation, Mr Noble said Bluesfest had pumped about $10 million into marketing, artist deposits, flights and accommodation, booked suppliers, and sold tickets to 30,000 fans.Like most major events, Bluesfest had cancellation insurance. And Mr Noble said when the company bought its policy more than five years ago, it had paid a higher premium for a now-important extra.
He confirmed that before COVID-19, it was possible to get cancellation policies with "communicable disease" coverage."It wasn't to do with a pandemic, it was for things like an outbreak of gastro in a camping grounds. "Unfortunately now that COVID-19 is a known risk, all the insurance companies are actually excluding communicable disease and not allowing it to be bought out.Insurance Council of Australia spokesman Campbell Fuller confirmed insurance for pandemics was already largely regarded by the industry as uninsurable after the SARS outbreak more than a decade ago.
"It there's a cluster in your area and you're closed down immediately prior to your event and you can't get insurance, how do you deal with that?" Bluesfest's Mr Noble said. That has already taken some goodwill. Mr Abad has negotiated with his venue to only pay a deposit four weeks in advance. Artists are also not taking deposits before performing.
are we surprised, cancellation insurance could be a very high risk until a successful vaccination arrives.
Seems maybe these entrepreneurs are not so daring. Isn't Rule 1 of event promotion is never use your own money? abcnews auspol dearohdear
Drug festivals.