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Jens Michow: German gov plans to delay insurance

The BDKV chief says the gov plans to postpone the €2.5bn indemnity scheme "as it's not yet clear when events can be held fully again"

By IQ on 15 Feb 2021

Michow has been advising the German government on the insurance scheme

Michow has been advising the German government on the insurance scheme


image © Klaus Westermann

The German federal government is planning to postpone its insurance scheme for event organisers, according to Jens Michow, the managing president of Germany’s live association, the Federal Association of the Concert and Event Industry (BDKV).

The €2.5 billion indemnity scheme, announced in December 2020, was due to launch in the second half of this year and would allow organisers to plan for Q3 and Q4 without the financial risk posed by a potential Covid outbreak.

But according to Michow, who has been acting as a consultant to the German government on the implementation of the scheme, the federal ministry of finance wants to postpone the commencement date as it’s not yet clear when events can be held fully again.

However, he reassured ‘critics’ that the fund would be launch eventually, writing in a Facebook post: “To all critics of German support politics: take me by my word, the default fund will exist! And possibly even longer than originally planned.”

“Take me by my word, the default fund will exist! And possibly even longer than originally planned”

Michow recently told IQ about the considerations, logistics and hurdles that had to be overcome in order to implement the insurance fund in one of Europe’s largest live music markets. Read the Q&A here.

The BDKV chief has also been busy working with the Event Management Forum on a proposal detailing a uniform approach to the gradual and safe reopening of events in Germany.

The alliance, which also includes live music association Live Komm, published the ‘Manifest Restart’ proposal last week, which includes an ‘approval matrix’ to help organisers and authorities determine in which risk levels, under which general and special measures of infection protection and hygiene, and with which capacities events are permitted.

Last week, the German government announced that it would continue a partial lockdown to curb the coronavirus pandemic until at least 7 March.

Interested in hearing more about government-backed insurance funds? Register for ILMC session Insurance: The Big Update.

 


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