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Music News

SXSW’s cancellation is not covered by insurance

SXSW’s cancellation is not covered by insurance
SXSW was due to start this Friday, when a global music scene was to have focused right down onto Austin Texas. However, as Corona fears spread SXSW was cancelled, wreaking devastating havoc on the many behind the scenes crew, and the venues, who depended on it for the better part of their year’s income.
 
But there’s a problem for the organisers too. They simply weren’t insured for a pandemic: “We have a lot of insurance (terrorism, injury, property destruction, weather),” Co-founder Roland Swenson told Music Business Worldwide. “However, bacterial infections, communicable diseases, viruses and pandemics are not covered.”
 
Also, reports that insurance would pay out because of Austin declaring a “state of disaster” were wrong. This could be a major problem.

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