Can I Still Get Film Insurance? 6 Things to Know - Capstone Brokerage

Within the next 30 days, most states and municipalities will allow the return to film production. Just as with every other industry and business, production companies will need to develop a COVID‐19 Safety Plan and create new ways to budget, execute and manage film shoots.  Insurance has always been a critical component to the film production process. What changes should you expect?  The good news is that production insurance is available right now. However, there will be some key changes to film production insurance. Here are six things to know:

1. All policies will exclude claims that arise from COVID‐19.

This includes Cast Insurance, Property coverage including Business Interruption, Civil Authority, Ingress/Egress and Workers Compensation.

2. Coverage will be more limited.

Certain carriers are no longer offering Cast Insurance. Others are only providing it if it is a specific contractual requirement for a distributor, investor or lender.

3. Expect additional underwriting questions.

Particularly with respect to filming location, crew and cast sizes and COVID‐19 testing and safety protocols.

4. Expect higher rates.

The insurance industry in general has been significantly impacted by the pandemic. Total losses could top $80 Billion. The film insurance business has received hundreds of claims related to productions and those losses alone will be in the hundreds of millions. Rates were already on an upward trend prior to the pandemic. Producers on new projects should be prepared to see increases by as much as 25%. Some companies may stop writing film coverage altogether.

5. The government and the insurance industry are working on a solution.

After 9/11, Congress worked with the insurance industry to create a federal backstop program called the Terrorism Risk Insurance Act (TRIA). This established a fund for future potential losses from a major terrorist attack. A similar plan for COVID‐19, called the Pandemic Risk Insurance Act (PRIA) is already in the initial congressional bill stage. However, it took 14 months for congress to pass and enact TRIA. Expect a similar trajectory for PRIA.

6. It has never been more essential to partner with an experienced film insurance specialist.

They can act as both your risk advisor and advocate when it comes to both the underwriting and claims process. This relationship will be vital to film producers in the post‐COVID‐19 world.

Want to learn more? E‐mail me directly at

Marc Spivey, CIC, CRM

Managing Director I Global Entertainment & Events Practice Leader

Capstone│Risk Management & Insurance

D 310.245.0048