UK music festivals and other live events are to be protected by a government-backed insurance scheme if they have to cancel because of Covid.
It will begin next month with a £750m budget to cover cancellation costs if events are legally unable to happen due to government Covid restrictions.
The live events industry, which has repeatedly called for such a plan, broadly welcomed the announcement.
More than half of all music festivals have been cancelled this summer.
And several events, including the Boomtown and Womad festivals, have cited an inability to obtain cancellation insurance as a factor in their decision.
The new scheme will see insurance companies provide cover for live events, with the government agreeing to act as a reinsurer - guaranteeing that any pay-outs will be funded.
Julian Knight MP, who chairs the House of Commons culture select committee, said: "Though it is a shame that it has come too late for some this summer, this scheme will provide the confidence the sector needs to plan and invest in future events."
Promoter Live Nation UK called it a "vital intervention" that would give the sector "certainty".
However, there are concerns that it will just pay out if events are banned by another lockdown. The Musicians Union said "the major problem" with the scheme is that it does not cover events that would become uneconomical if social distancing came back into force.