The traditional event is held on Bonfire Night
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Ottery St Mary's famous tar barrel rolling event may have to be cancelled this year because organisers are having difficulty in getting insurance cover.
The 5 November event was insured for public liability with a premium of about £2,000 last year, but insurers say they can no longer provide cover.
Without insurance, organisers say they will not be able to put road closure orders in place and it is likely the event will have to be cancelled.
The tradition involves men, women and children rolling flaming barrels through the streets of the town.
No-one really knows when the tradition of tar barrel rolling started. Many believe it originated from pagan rituals to ward off evil spirits.
No claims
Andy Wade, chairman of the carnival committee, said: "I've been trying to get insurance for two months.
"Our brokers have tried everything, but they have all declined."
He said that the organisers had never made a claim and had paid for any damage on the night.
He said: "A barrel might break a window or something, but the committee puts it right.
"We need the public liability insurance if, God forbid, anything should happen to an individual.
"We have always realised you have to be aware of public safety in these matters."