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Policy overview

COVID-19 Event Insurance provides cover for creative, business, sporting and community events in Victoria that have to be cancelled (or have to run at reduced capacity) because of a State or Federal Government restriction due to the COVID-19 pandemic. It will give Victoria's event industry confidence to plan events in the future.

Who’s covered?

  • The insurance can be purchased by creative, sporting, business and community event organisers, including sole traders.

What’s covered?

  • Creative, sports, business or community events where the expected revenue or cost is between $20,000 and $10 million.
  • The insurance provides a pre-defined payout if a State Government or the Federal Government imposes a mandatory restriction due to COVID-19.
  • If an event has to be cancelled, the event organiser receives a payment of 100% of the declared value (either expected revenue or cost).
  • If the event goes ahead at reduced capacity, the event organiser receives a payment of 50% of the declared value (either expected revenue or cost).
  • Declared value is nominated by the event organiser when taking out the insurance.

What's not covered?

The insurance is only triggered if there is a State or Federal Government imposed restriction directly relating to COVID-19 which means the event has to be cancelled or can only go ahead at reduced capacity. It does not cover events being cancelled or held at reduced capacity for any other reason.

This is a brief overview of the policy only. Please refer to the policy wording below for full details of cover and exclusions.

How much is it?

  • The premium (the one-off cost you pay to buy the insurance) is a percentage of the event’s declared value.
  • For creative industry events and small events (with expected revenue or cost of between $20,000 and $100,000), the premium is 2% of declared value.
  • For other events (with expected revenue or cost greater than $100,000), the premium is 4% of declared value.

Policy documents

More information

Contact eventinsurance@vmia.vic.gov.au or call 1300 947 430 – we’re here to help.