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Irish Mirror

National

Sean Murphy

Electric Picnic's insurance paid out €3.6m when music festival was cancelled in 2020, the first year of Covid-19

Electric Picnic Covid-19 Insurance Denis Desmond

Final accounting figures show Electric Picnic’s insurance paid out €3.6m when the music festival was cancelled in the first year of Covid-19.

The payout helped the festival company make a €2.4m profit in 2020.

Managing director of promoters MCD, Denis Desmond, who operates Electric Picnic with Live Nation, revealed that the 2020 festival was covered by an insurance policy that covered events such as a pandemic.

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