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Carolyn Maloney
Federal Pandemic Insurance Act (PRIA) Revived In Congress; Another Chance For Frazzled Indie Producers And Industry As Costs Soar
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deadline.comRep. Carolyn Maloney (D-NY) has unveiled a second iteration of her bill introduced last May to help U.S, businesses including Hollywood survive the financial hit of Covid andfuture pandemics.Costs and risks for independent production ballooned after private insurers, hit by massive Covid claims and heavy losses, excluded communicable disease from all policies and, basically, will never reinstate them unless they’re forced to.
This second go-round of the Pandemic Risk Insurance Act, or PRIA, does just that, requiring insurers to participate in the program, administered by the Secretary of Treasury.
It calls for the government to shoulder 95% of insurers’ pandemic-related claims. Coverage would kick in if the Secretary of Health and Human
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