4:38 PM PST 02/19/2021
Film, television and sports groups including SAG-AFTRA, DGA and Producers Guild on Friday further called on senators for “direct intervention” in the form of temporary federal funds.
A coalition of guilds and industry organizations is once again calling on U.S. lawmakers to implement accessible pandemic risk insurance coverage as COVID-19 continues to disrupt Hollywood production.
“As you develop the Senate Committee on Banking, Housing and Urban Affairs’ agenda for this year, the motion picture, television and sports industries respectfully request that you consider the general economic impact that the withdrawal of pandemic risk coverage has created for our business, “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, Producers Guild of America, American Coalition for Independent Content Production and SAG-AFTRA) said in a letter to Senate leaders on Friday. “Put simply, it It’s extremely difficult for us to return to work without pandemic insurance coverage.
The letter was addressed to Senator Charles Schumer, Senate Majority Leader, Minority Leader Senator Mitchell, Chairman of the Senate Banking, Housing and Urban Affairs Committee, Senator Sherrod Brown and the non-commissioned member, Senator Patrick J. Toomey. The same coalition of organizations sent a letter to members of the US House Committee on Financial Services calling for insurance against pandemic risk in November, ahead of a hearing regarding Representative Carolyn Maloney.Pandemic Risk Insurance Act 2020 bill.
Without naming Maloney’s bill, this latest letter states that a “long-term public-private partnership on pandemic risk insurance is needed to stabilize funding and employment”, echoing the Wording of the Pandemic Risk Insurance Act 2020 and refers to Maloney’s Terrorism Risk Insurance. Law of 2002 as a model for such a partnership.
“We urge you to hold a hearing to consider the need for pandemic risk coverage in the Senate Committee on Banking, Housing and Urban Affairs,” the signatories say.
In addition to this long-term solution, the signatories further call for “direct intervention” through “temporary and targeted federal funds that provide the necessary guarantees of loss coverage so that production can move forward” to revive the industry. At another point in the letter, organizations are calling for the next COVID relief package to contain a short-term solution of this nature to enable industry to weather the pandemic.
As the organizations detail in the letter, since COVID-19 spread across the country in 2020, most productions have not been able to secure insurance that protects them from business disruption due to the pandemic. Without this insurance, productions risk losing the funding they need to get started.
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