The entertainment business doesn’t work without insurance. And right now, the insurance industry is getting crushed.
Brian Kingman, managing director of the entertainment practice at Arthur J. Gallagher, pegged the number even higher, at $500 million to $1 billion. The larger studios — the Disneys and the Netflixes — at least have the capacity to assume the risk of a coronavirus shutdown. “If you’re not fully covered, you’re going to have difficulty getting it bonded and difficulty getting it financed,” Prewitt says.
It's truly a shit show in this industry. Getting filming back on track is not going to be easy.
'' Insurance '' .... One of the biggest scams in modern history ! As long as you are paying them for nothing , everything is fine .... but if anything happens you end up fighting for what they owe you in court !!!
So glad I was finally able to move out to LA this year to truly pursue my career and now productions can’t resume any time soon because of insurance carriers.
Cannes Film Festival 2020 Officially Canceled Due to COVID-19. The 73rd annual Cannes Film Festival has officially been canceled. And even though 'Solebury saved my life,' wrote Solebury Head of School Tom Wilshutz, 'and now, COVID-19 and an empty campus.'
That’s great for productions, but doesn’t do anything for day players.
Like they aren’t already rich enough.
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Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »