Olivia Colman is to be honoured with the inaugural Icon Award by bosses of London's Raindance film festival. The British actress, who won the BAFTA, the Golden Globe and the Oscar for The Favourite earlier this year, is set to receive another honour in recognition of her career. Colman will be bestowed with the first-ever Icon Award from Raindance film festival executives on 20 August at The May Fair Hotel in London, the same day the programme for the 2019 festival is launched. "Raindance has reigned over Britain's independent film scene for 27 years," Colman said in a statement. "Many of our industry's most important voices have been amplified because of Raindance, and it remains a place where non-mainstream stories can be told, and where underdogs can flourish. I'm incredibly proud to be the recipient of the Raindance Icon Award." The Fleabag star, who will be seen playing Queen Elizabeth II in The Crown later this year, already has a connection with Raindance. She served on the jury and helped judge competing films in 2016 and has won a total of four acting awards at the British Independent Film Awards (BIFAs), the ceremony set up by Raindance in 1998. According to Screen Daily, the Icon Award is adapted from the Raindance Auteur award, an honorary prize previously given to directors such as Terry Gilliam, Guy Ritchie, and Ken Loach. The honour has been renamed to cover a broader range of talent. In a statement, Raindance founder Elliot Grove said Colman was the obvious choice for the prize. "When faced with a decision of who might receive our inaugural Icon Award and all that it implies, the choice was simple," he said. "Raindance is delighted to celebrate Olivia's ongoing contribution to U.K. film."