NEW YORK (Reuters) - Insurers have largely stopped covering independent film and television productions against the risk of COVID-19 illness, a shift that threatens the supply of new entertainment in 2021, Hollywood producers, insurers and industry experts said. Until crews can work safely again and insurance covers COVID-related costs, “there will be less content of the caliber that we’re used to,” independent film producer Robert Salerno told Reuters. (GRAPHIC: here)“It is not a risk you can even price,” a senior insurance executive, who was not authorized to speak publicly, told Reuters. Media Guarantors Insurance Solutions, which provides bonding, has seen business fall 80% during the pandemic, said Chief Executive Fred Milstein. While big studios can self-insure, independent producers, who turn out 70% of new films and numerous TV shows in the U.S. each year, are looking for alternatives, said Jean Prewitt, chief executive of the Independent Film & Television Alliance.

Source: Egypt Today July 09, 2020 21:22 UTC