The Asylum “rarely has cast insurance and has never had a completion bond. So those issues don’t exist for us,” Bales said. “But for the people bigger than us, the bigger companies, I can see the pain.”could be the only viable option – short of a vaccine.introduced the Pandemic Risk Insurance Act of 2020
After all, major sports leagues, Hollywood studios, TV networks and stadium owners all want pandemic insurance. “Whether it’s a five-person or a 5,000-person production, you can get folks to pay attention. To see this is not a partisan issue, this is not a geographical issue.” Industry trade groups should also speak up, he said.
Other countries — Canada, the UK, France — are farther ahead in designing a government backstop for production insurance, but the amounts are limited, in the millions, not billions, said Film Finances’ Ransohoff, and not a realistic model for the U.S. Passion projects have an advantage. “We see a lot of people being excited and wanting to go back to work,” said O’Shea. “But we are [also] seeing that the talent, director or writer or primary cast are going to be more or less cautious about going on set, depending on the project. … The more passionate they are about the project, the more wiling they are to set a date regardless of COVID.” Ditto with a financier.
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