Jill Goldsmith Co-Business EditorWhen COVID-19 hit in March, insurance companies abruptly backed away from pandemic coverage, a fateful move that’s hobbled efforts by independent producers to lock in financing and disrupted Hollywood as film and TV production attempts a comeback.As insurers — spooked by global pandemic payouts that could top $100 billion this year — drag their feet, two firms have started to offer producers COVID policies.
They’re super expensive, very limited, and there aren’t many available given the lack of capacity. But the firms, SpottedRisk and Elite Risk, are at least chipping away at the edges of Hollywood biggest challenge: getting independent content financed in today’s riskier COVID world.
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