EXCLUSIVE: “The single biggest obstacle to getting back to work is production insurance,” the head of UK producers group PACT has told us. PACT chief John McVay has been working with broadcasters a…
: “The single biggest obstacle to getting back to work is production insurance,” the head of UK producers groupPACT chief John McVay has been working with broadcasters and leading production firms as part of the BFI’stask force, which was set up in response to the pandemic. McVay is chairing the domestic broadcasters working group, which has identified insurance as a key concern. We understand the group includes leading TV execs such as All3Media COO Sara Geater and Argonon CEO James Burstall.
The UK production sector generates billions of pounds in spend each year but all shoots have been suspended since the UK government implemented a lockdown last month. One leading UK film and TV producer told us, “It will become much harder. The bond companies and insurers will want to exclude those clauses which will make financing more difficult.”A spokesperson for the government told us, “We are aware of this issue and are working closely with the sector to understand the full extent of concerns. The Government recognises that businesses who do not have appropriate insurance cover will require support from elsewhere.
“There are existing policies that aren’t being paid out,” he said. “We’ve had members who have had to spend hundreds of thousands to suspend production and they aren’t getting that money back.” We’ve heard from one UK media company that has appointed top UK law firm Mishcon de Reya as its lead counsel in a legal action against UK insurer Hiscox.
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