Canada Unveils Emergency $50M COVID-19 Fund for Local Production

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Canada Unveils Emergency $50M COVID-19 Fund for Local Production
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Canada unveils emergency $50M COVID-19 fund for local film and TV production:

The Canadian government has stepped in to temporarily cover losses incurred by local producers forced to shut down or scrap film and TV shoots due to a coronavirus outbreak.

Canada's film sector has been hobbled as reinsurance companies, which insure insurance companies, refuse to cover COVID-19-related risks, making it virtually impossible for production companies to secure traditional insurance and completion bonds and get their cameras rolling. The fund also follows months of lobbying in Ottawa by indie producers, unions and other industry groups as they seek a bespoke COVID 19 insurance solution backed by the federal government after the Coronavirus outbreak shuttered domestic production last March.

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