Events Industry Bulletin 19.01.21

We may be in lockdown 3.0 but that won’t stop the Events Industry Bulletin bringing you everything you need to know from our industry and beyond 🎉

There is good news as the vaccine roll-out gains momentum alongside reports that every adult will be offered their first vaccination by September and that business interruption insurance claims will have to be paid following a Supreme Court ruling.

Read on for these stories and much, much more 💪

Vaccine roll-out extended to the over 70s

People in England in their 70s, and those listed as clinically extremely vulnerable, will begin receiving offers of a coronavirus vaccine this week marking a “significant milestone” in the nation’s vaccination programme.

4 million people have been vaccinated so far, with the target of 15 million by mid-February. Foreign Secretary Dominic Raab also announced that all adults will be offered their first dose by September.

The success of the programme so far provides some real hope of a return to in-person events in some capacity later this year.

Event Venues step up to help vaccination roll-out

Mass vaccination hubs at seven sites across England – including sports venues and convention centres – opened last week.

Hubs have been set up in London, Newcastle, Manchester, Birmingham, Bristol, Surrey and Stevenage and include event venues such as Excel London and Epsom Racecourse in Surrey.

Despite a very difficult year for venues, they have once again stepped up to assist in the fight against Coronavirus.

G7 summit to take place in Cornwall

Prime Minister Boris Johnson has confirmed that the G7 summit scheduled for 11-13 June 2021 will take place in Carbis Bay, Cornwall.

The three-day summit will take place at the Tregenna Castle Resort in St Ives and is thought to be worth some £50m in economic benefit to the county.

The prime minister said: “Two-hundred years ago Cornwall’s tin and copper mines were at the heart of the UK’s industrial revolution and this summer Cornwall will again be the nucleus of great global change and advancement.”

News that the summit will go ahead in June is positive for the industry, giving some suggestion that events may be able to run by the summer.

Supreme Court ruling on business interruption policies welcomed by the industry

The case was originally brought to court in May 2020 by the FCA to get legal clarity on whether insurers legally needed to pay claimants from business interruption claims, related to the COVID-19 pandemic and its unforeseen impacts.

The ruling determined insurers including Arch, Argenta, Hiscox, MS Amlin, RSA, and QBE would have to pay out for these claims made by around 370,000 small businesses to the value of between £3.7 billion and £7.4 billion.

Jane Longhurst, CEO of the mia said she was “optimistic that this will provide a lifeline for many organisations whose claims have been unjustifiably rejected to date.”

IMEX 2021 is cancelled due to uncertainty

Last week, the IMEX Group chairman Ray Bloom and CEO Carina Bauer announced the cancellation of IMEX 2021 citing uncertainty around international travel as a factor.

They released a statement commenting, “We still believe wholeheartedly that a resurgence will come, but sadly we do not believe it will happen in time for us to deliver a strong and successful event in May.

IMEX in Frankfurt is a hugely global event – our exhibitors and buyers represent 150+ countries – and we are, therefore, reliant on international travel routes being open in the coming weeks to allow our buyers and exhibitors from across the world to confirm their participation.”

Whilst this is a blow to the events industry, Bloom and Bauer are confident that IMEX America will go ahead in November and that the industry will make a recovery.