Given the year the vast majority of the Event Industry have endured, maybe 2020 should be referred to as ‘annus horribilis’ and forgotten about as soon as possible.
However, we at InEvexco believe Ian Dury and the Blockheads had it right…..
- there are at least 3 reasons to be cheerful and here they are to face into 2021 with a positive attitude.
- For the last few months, we have been representing the EIA and specifically the exhibition and business event sector in conversation and negotiation with Government agencies, calling for a Treasury backed insurance solution protecting against Communicable Disease going forward. If accepted and supported by Government, it will give Organisers the much-needed confidence to start the process of arranging events to take place from a specific date agreed by Government. In the event of further lockdowns or enforced central or local government restrictions the revenue and expenses insured or guaranteed under the scheme will be reimbursed. Negotiations are going well, and the scheme specifically designed by InEvexco has EIA’s full support. Our first reason to be cheerful is the fact Government are engaging in meaningful conversations and these are boosted by the APPG statement on 4th January 2021 by Theresa Villiers MP who is reported to have said they are committed to working with the industry. As an insurance style protection is one of the principal objectives for EIA to secure from Government, InEvexco will continue to work with and be available to advise both the EIA and Government to finalise a confidence building and income protecting solution.
- OUR SECOND REASON is that we should take pride in the latest developments in the fight against this unseen foe, especially the fact the UK are reported to be the front runners in Europe in respect of vaccination creation and the intention and ability to vaccinate 13 million people before the middle of February. This certainly gives us another reason to be cheerful as we can now see a strong light at the end of the tunnel and a way our businesses will ultimately reopen and a new normal can be established.
- Our third reason to be cheerful is the resilience shown by the Industry and the progress we are seeing in the planning process here and overseas. Australia and New Zealand along with the Middle East and Asia, appear to be further ahead in this respect. It was heartening to see reports of the New Year celebration in Sydney and Auckland taking place with no restrictions at all. We appreciate the globe as a whole still has a lot of work to do but, it does seem despite the more transmissible variant of the disease, humanity is taking back control. Surely this means, mass, organised gatherings are on their way back.
We are increasingly positive about the future.
As a specialist exhibition and event insurance broker we are committed to working with all organisers, contractors and suppliers within the sector. During the last few months, we have worked with insurers to encourage a flexible, adaptable approach to assist existing and new clients through this challenging period, including helping to develop a new policy to cover digital/virtual transmission of online events or hybrid shows.
We have also created ‘quick glance’ summaries of cover for clients’ consideration. These do not replace the recommendation that you read your policy wording but, they are designed to increase your understanding or encourage questions before deciding if the proposed cover is adequate.
Mark Clayton MD commented “We are and have always been fully vested in the exhibition and business event sector and completely understand how this crisis has disproportionately affected UK organisers, contractors, venues and all their suppliers. We offer an empathetic and flexible approach to our existing clients and would welcome any new customer who wants to work with an insurance broker who understands this great sector and its people”.
The need for insurance should remain high on everyone’s agenda.
Communicable Disease cover may not be available yet. It’s highly likely this will only come from Government support as the aggregated risk is far too big for any insurer or group of insurers to take. However, the risks you insured against before haven’t disappeared. For organisers, this may be adverse weather, a potential National Mourning period, terrorist threat or activity, natural disaster and all of the other potential risks the venue is exposed to each year. Any one of these risks and more could be disastrous for your recovering business. For contractors and suppliers, as your contracts return, you should protect against a business crippling loss, whether it be as a result of damage to stands, stock, equipment, premises or a claim against your public or employers’ liability, you should have cover in place.
Continued flexibility from our Insurer partners assists organisers should events need to be moved or rearranged and a lower premium policy for contractors and suppliers helps support the infrastructure of the industry. InEvexco will continue to work hand-in-hand with all industry parties as we collectively strive to reopen and protect our sector as early as possible in 2021.
We look forward to discussing your 2021/22 plans (whatever they may be).
Please contact Mark Clayton (07770 872642) or Mark Blair (07834 158074)
InEvexco Ltd is authorised and regulated by the Financial Conduct Authority
Registered Office: 39 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4SD, Registered in England and Wales, No.7770177
