Item - 2021.EC23.5

The Economic and Community Development Committee:

1.  Received the report (June 16, 2021) from the Interim General Manager, Economic Development and Culture for information.

The purpose of this report is to provide an update on the development of industry-led solutions for an insurance program for live music venues in Toronto.

At the request of the Economic and Community Development Committee, staff have continued to investigate options to support live music venues with securing insurance coverage. Faced with increasingly challenging market conditions, venues are struggling to find appropriate insurance coverage, which will be necessary for reopening once COVID-19 restrictions are lifted. Since the last report by staff to the Economic and Community Development Committee in March 2021, the music sector, with leadership from the Canadian Live Music Association (CLMA), has made progress in developing options for an industry-led insurance program for live music venues. Accordingly, it is no longer necessary for the City to consider providing a financial backstop for such a program, or to assume any financial risk. Instead, the City can continue to support Toronto's live music venues by providing advice and encouraging the development of viable programs by the insurance industry in collaboration with partners such as the CLMA.