By Gene Maddaus Senior Media Writer The entertainment business doesn’t work without insurance. And right now, the insurance industry is getting crushed.
That poses a tremendous obstacle to restarting film and TV production: If insurers aren’t willing to sell policies, then the cameras won’t roll. “This is a giant problem,” says Jean Prewitt, CEO of the Independent Film & Television Alliance.
First, some good news. Costs incurred by the production shutdown should be covered — up to a point — under various industry-standard insurance policies.
None of those policies has a specific exclusion for pandemics. But that’s bad news for the insurance carriers who will have to pay those claims. “In the movie industry, there’s probably $300 million
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