• What does COVID-19 Event Insurance cover?

    If you take out the insurance for your event and a State or the Federal Government imposes restrictions for the period your event is due to be held, you’ll receive the following payment:

    • 100% of the event’s declared value if the event has to be cancelled
    • 50% of the event’s declared value if the event goes ahead with reduced capacity (or you choose to cancel the event because of those capacity restrictions)

    For multi-day events, the payment will be pro-rated for the part of the event affected by the government restrictions.

  • What is declared value?

    Declared value is the amount you want to insure your event for – either the revenue you expect to make from the event, or the cost of putting it on. You nominate a declared value when you take out the insurance, based on either revenue or cost.

  • How much does the insurance cost?

    The cost of the premium (the amount you pay to buy the insurance cover) will be based on a percentage of the declared value of the event. The premium will be confirmed before the product becomes available to purchase in December.

  • What’s an event?

    An event is an organised gathering for a common purpose which:

    • is conducted on a one-off, periodic, or regular basis; and
    • is open to the public or via a registration process; and
    • may be subject to specific license, approvals or permits.

    These events may:

    • be organised on a for-profit or not-for-profit basis; and
    • take place in a facility, venue, indoor or outdoor space.

  • Who can take out this insurance?

    The cover is available for events held in Victoria with estimated revenue or cost of between $20,000 and $10 million. Event organisers with an ABN (including sole traders) will be eligible to apply for the insurance. Creative, sporting, business and community events are eligible. For ticketed events, the event organiser must have a refund policy in place for purchased tickets. 

  • Is it compulsory to buy a policy to hold my event?

    No, the insurance is optional. You can still hold an event without taking out a policy.

  • What details do I need to supply?

    To apply for a policy, you’ll need to complete an application form. You’ll need to provide event dates, declared value (either the expected event revenue or cost), your ABN, name, address, and contact number. You also need to supply confirmation that the event will be held in Victoria and that the expected revenue from the event, or the cost of holding the event, is between $20,000 and $10 million. If your event is ticketed, you will need to declare that you have a COVID-19 refund policy in place for ticketholders.

  • How far in advance of my event do I have to arrange a policy?

    The policy needs to be paid for at least 14 days before:

    • the scheduled event start date, or
    • the first day if it's a multi-day event.

  • Can I cancel my event insurance?

    No, the insurance can’t be cancelled once it’s been purchased.

  • When can I buy the insurance?

    The insurance will be available in December 2021. In the meantime, you can register your interest by filling in this form 

  • How do I make a claim on my policy?

    If restrictions are announced, impacted clients with a policy will receive a claims declaration form to confirm their event is being cancelled or held at reduced capacity, together with bank details for a payment to be made.

  • Can I claim on events that have already been cancelled if I buy this policy?

    No. The policy needs to be purchased at least 14 days in advance of your event, and with no COVID-19 related State or Federal Government restrictions in place at the time of purchase.

  • What if I decide to cancel the event myself – can I make a claim?

    No. You can’t claim for a voluntary cancellation not related to COVID-19 State or Federal  Government restrictions.

  • What if I postpone my event, but don’t cancel it?

    The policy applies to events that have to be cancelled or go ahead with reduced capacity because of State or Federal Government restrictions related to COVID-19. If you decide to postpone the event because of restrictions, contact us to update the event details in your policy.

  • What is VMIA?

    Victorian Managed Insurance Authority (VMIA) is the Victorian Government’s insurer and risk adviser. It insures the Victorian Government’s departments and agencies and $220 billion of the state’s assets, as well as providing other types of insurance like domestic building insurance to homeowners and medical indemnity insurance to doctors and hospitals.