A broad entertainment industry coalition on Friday pleaded with the Senate leadership to push forward federal aid for pandemic insurance, as it’s nearly impossible to get back to work without it, especially for independent films.
Unless something really big – like the public-private Pandemic Risk Insurance Act (PRIA) originally proposed last May by New York Rep. Carolyn Maloney – a group comprising the MPA, IFTA, Hollywood guilds and even NASCAR called for a “bridge” solution, similar to dedicated funds set up in other countries like the UK
“The lack of commercial insurance coverage for losses due to the coronavirus pandemic is a critical issue for the economy as a whole, but it is a critical issue for the continued operation of our industries. Simply put, it is extremely difficult for us to return to work without pandemic insurance coverage. Federal legislation is needed for American workers to truly resume their work in films, television and sports productions, ”says letter to Senate Majority Leader Chuck Schumer, Minority Leader Mitch McConnell, President Sherrod Brown and Ranking Member Pat Toomey.
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Pandemic insurance disappeared in March. Independent film producers have suffered unduly from not being able to insure against losses due to shutdowns or illnesses of major cast members because private banks are afraid to finance their productions. Even some big studios, which can self-insure, won’t risk investing in big-budget, mass-market productions. The productions are still progressing, but much less.
To date, the pandemic has affected 464,000 film and television jobs in the United States. About 400 film and television productions were canceled last year, the group said. “The need for federal assistance is urgent and is intensifying day by day.”
“Our industry needs direct intervention from the federal government to jumpstart production across the United States, with temporary and targeted federal funds that provide the necessary guarantees of loss coverage so that productions can go from strength to strength. before. Such programs now exist in other countries. Providing this protection to productions now would allow our US industry to return to work at a critical time and ensure diversity of content in the months to come, ”he said.
Read the full letter below: