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Canada Unveils Emergency $50M COVID-19 Fund for Local Production

Canada Coronavirus film covid-19 cover
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hollywoodreporter.com
hollywoodreporter.comhollywoodreporter.com:

The Canadian government has stepped in to temporarily cover losses incurred by local producers forced to shut down or scrap film and TV shoots due to a coronavirus outbreak.

The Short Term Compensation Fund will offer indie productions up to $1.5 million if they face a temporary interruption and $3 million for a complete shutdown of production, to a maximum of $50 million.

Canada's film sector has been hobbled as reinsurance companies, which insure insurance companies, refuse to cover COVID-19-related risks, making it virtually impossible for production companies to secure traditional insurance and completion bonds and get their cameras rolling.

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