The entertainment business doesn’t work without insurance. And right now, the insurance industry is getting crushed. That poses a tremendous obstacle to restarting film and TV production: If insure…
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.
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