Reprinted from The Hollywood Reporter by Katie Kilkenny on February 19, 2021.
A coalition of industry guilds and organizations is again calling on U.S. legislators to implement accessible pandemic risk insurance coverage as COVID-19 continues to disrupt Hollywood production.
“As you develop the agenda for the Senate Committee on Banking, Housing, and Urban Affairs for this year, the film, TV, and sports industries respectfully request that you address the broad economic impact that the withdrawal of pandemic risk coverage has created for our businesses,” a group of film, television and sports groups (including The Motion Picture Association, the Independent Film & Television Alliance, the NCTA – The Internet & Television Association, the Directors Guild of America, the National Association of Broadcasters, IATSE, the Producers Guild of America, American Coalition for Independent Content Production and SAG-AFTRA) stated in a letter addressed to Senate leaders on Friday. “Simply put, it is enormously challenging for us to go back to work absent pandemic insurance coverage.”
The letter was addressed to Senate majority leader Senator Charles Schumer, minority leader Senator Mitch McConnell, Senate Committee on Banking, Housing, and Urban Affairs chairman Senator Sherrod Brown and ranking member Senator Patrick Toomey. The same coalition of organizations sent a letter to ranking members of the US House Committee on Financial Services calling for pandemic risk insurance in November, prior to a hearing regarding Representative Carolyn Maloney’s Pandemic Risk Insurance Act of 2020 bill.
Without naming Maloney’s bill, this latest letter says “a long-term public-private partnership on pandemic risk insurance is needed to stabilize financing and employment,” which echoes the language of the Pandemic Risk Insurance Act of 2020, and references Maloney’s Terrorism Risk Insurance Act of 2002 as a template for such a partnership. …