Low independent film insurance availability due to COVID-19 causes struggles

Independent film insurance - movie set

Major insurers are unwilling to take on the risk of production delays and shutdowns in the pandemic. A lack of easy availability of independent film insurance amid the pandemic has added a new level of challenges to the substantial effort of lining up financing. Finding coverage to cover interruptions as a result of COVID-19 has become painful for these creators. The primary challenge with independent film insurance is that while major insurers are hesitant to sell it, lenders require it. It has made the situation difficult enough that many productions…

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COVID-19 pandemic crisis may be the most expensive event for insurance

Most Expensive Event - Costs - US dollars

Though uncertainty remains regarding the final cost, the coronavirus will be among the costliest. The final total is far from known for the insurance and reinsurance industry in terms of the cost of the pandemic crisis, but it is expected to be one of the most expensive event price tags in history. A new report published by reinsurance broker Guy Carpenter points to record costs. The pandemic is particularly dangerous because of two primary factors. The first is that it comes with ongoing potential for causing unexpected and unpredictable loss…

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Workers compensation insurance market starts to feel the COVID-19 pinch

Workers Compensation insurance - Coronavirus - mask

The coronavirus is now making itself felt in this additional part of the industry. Workers compensation insurance companies are now working quickly to keep up with the sudden influx of claims resulting from the coronavirus pandemic. This has been made all the more complex as the regulatory landscape shifts throughout the country. Many states have been changing the regulations to which the workers compensation insurance companies must adhere in the face of COVID-19. For instance, the state commission for this coverage gave its unanimous approval to repeal a controversial emergency…

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