Lloyd’s broker Tysers has developed and diversified its entertainment insurance products and services to reflect the new live events landscape.
For the music & live events sector, the broker has launched two schemes:
- Tysers Freelancers, an online insurance solution available 24/7 that provides cover for freelancers who work in music events across UK & Europe; and
- Tysers Elite, which provides coverage for the assets and liabilities of those who work in the festival industry, including touring bands.
Tysers said it continued to help clients navigate increasingly challenging and evolving risk landscapes throughout the pandemic. Notably, Tysers’ unique non-appearance and event cancellation policy wording for live events has provided cover for numerous clients, with an estimated US$500 million paid in claims, the company said. Tysers also spearheaded a campaign for a government-backed insurance scheme, to get live festivals and gigs running again, which resulted in a first-of-its-kind Live Events Reinsurance Scheme.
“Navigating the last 18 months has been challenging for our clients and the industry, but we are stronger for the experience, and I am incredibly proud of how our teams have worked together across the business to deliver for our clients,” commented Bob Pybus, head of Retail Broking and a member of the executive committee at Tysers.
“We’re now seeing the rewards of the dedication and commitment of our talented teams with revenue returning to 2019 levels in live events and property/casualty,” said Paul Chapman, managing director at Tysers. “This demonstrates the strength of Tysers’ brand across key lines of business, and our new products reflect our ability to provide forward-thinking, nimble wholesale and direct-to-client solutions. Our employees are our greatest asset and it’s fantastic that we continue to attract and retain such brilliant talent.”
Tysers is a leading independent Lloyd’s insurance broker. Headquartered in London with offices around the world, Tysers trades in 140 countries. Tysers has more than 1,000 experienced and talented employees who handle in excess of £2.75 billion of premium annually.
Source: Tysers
Topics Agencies Excess Surplus Lloyd's
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