The government has extended its insurance scheme to give large-scale events financial certainty for another year.
Live, in-person paid events which have to be cancelled due to the government's Covid-19-related restrictions are included in the extended Events Transition Support Scheme. Photo: 123RF
In November it set aside more than $200 million for the Events Transition Support Scheme, which covers 90 percent of unrecoverable costs for live, in-person paid events for more than 5000 people.
Gatherings are limited to 100 people under the red setting of the Covid-19 Protection Framework, forcing widespread cancellations this summer.
The scheme had been due to run until 3 April, but will now last until January 2023.
Economic development minister Stuart Nash said eligible events under the extended support had to have been announced before 23 January 2022.
There are some exceptions for festivals that have been going for at least three years, and tours.
Events are also eligible if a lead artist or subject has to self-isolate suddenly.
The scheme has also been extended to include business events with at least 200 attendees.
"We only are underwriting costs, not profits," Nash said.
"So event promoters have still got a little bit of skin in the game, but obviously the risk of losing 10 percent if they can't go ahead is a lot more palatable than the risk of losing 100 percent."
New Zealand Events Association general manager Ségolène de Fontenay said for members, no events meant no income.
"We're in the middle of the peak season with leisure events, and we also have the backlog of events that had to be cancelled last year during the Delta lockdown for four months."
She was pleased the scheme was being extended, but said other schemes like the wage subsidy had been more helpful.