Here's Why Insurance Won't Cover SXSW's Cancellation Due to Coronavirus

The 2020 SXSW Festival is no longer taking place after the City of Austin made the decision to pull the plug on the event amid Coronavirus fears.

Now, the organizers of the festival have revealed that they are not covered by insurance for the cancellation due to a disease outbreak.

“We have a lot of insurance (terrorism, injury, property destruction, weather). However, bacterial infections, communicable diseases, viruses and pandemics are not covered,” SXSW co-founder and Managing Director Roland Swenson told the Austin Chronicle.

The festival has made it known that they believe “the show must go on,” but they are being forced to cancel the event by the city. It sounds like they will be losing a lot of money because of it!