MONTREAL — Canadian insurance broker and financial services firm Assurart, based in Montreal, announced today it is offering flexible coronavirus production insurance for film and TV producers across Canada.
“The policy offers critical protection to lenders, financiers and production companies in the case of extra expenses incurred for production delays and production abandonment due to Covid-related testing, illness or death, as well as civil authority shutdowns,” reads Assurart’s press release.
“Available for domestic and foreign production of scripted, animated or factual content, and with policy limits from $1,000,000 to $20,000,000 in the currency of choice, the policy provides a flexible basket for covered losses with a single deductible, and a minimum premium of $60,000,” continues the release.
Assurart’s senior entertainment insurance broker, Claude Forest, is quoted as saying: “An important breakthrough in the Covid disruption, for independent film and television producers in Canada, and one that removes uncertainties for funders and stakeholders.”
“We have not been able to compete with the studios and streamers, and not all independent productions qualify for the [federal government’s] limited Short-Term Compensation Fund,” adds Kevin DeWalt, producer at Minds Eye Pictures, “so this coverage will help independent producers get back to business.”
Finding insurance for producers in a Covid era is something for which the Canadian Media Producers Association has been advocating.
For more information, please contact covid@assurart.com.
