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.
Thousands of shoots around the world shut down abruptly in March as the novel coronavirus spread and governments imposed lockdowns.
Now as filmmakers try to get back to work they are finding insurers have largely stopped providing the COVID-19 coverage they need to secure financing.
Some insurers are even adding exclusions for COVID-19 or communicable diseases to existing policies when cast members get medical exams, insurance lawyer Kirk Pasich told Reuters.
Without coverage, many producers cannot get the completion bond, or guarantee, that banks require to lend to productions.
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