WASHINGTON—After productions were shut down for months because of COVID-19, resulting in lost jobs and other economic pressures, the production industry is fighting for future pandemic insurance, throwing its support behind a broad effort from the Business Continuity Coalition.
According to a report from Deadline, NAB, NCTA, the Independent Film & Television Alliance, Fox Corp, Sony Pictures, ViacomCBS and the Motion Picture Association are now part of the BCC’s coalition of U.S. businesses that are seeking an insurance program that protects jobs and ensures business continuity from COVID, future pandemics or other emergencies that result in widespread shutdowns of the economy. BCC says it will work with policymakers and other U.S. stakeholders to achieve this.
One of their plans is to institute a Federal business continuity program that it says would save jobs and prepare the U.S. economy for government-mandated business closures. If properly structured, BCC says that this kind of program should address sector-specific issues that may develop.
Earlier this year, a group of media players sent a letter to Congress calling for insurance coverage related to pandemics, which are not widely supported at this time and many believe would not be without action by Congress.
Rep. Carolyn B. Maloney (D-N.Y.), who introduced the Pandemic Risk Insurance Act back in May, voiced her support for the efforts by BCC.
“Congress needs to be proactive in helping businesses protect themselves from economic losses as a result of pandemics, which, as we’ve seen, can be devastating to businesses of all sizes,” she said.
For more information, visit www.businesscontinuitycoalition.com.
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