Hollywood Insurers Are Changing Rules for Film, TV Production Policies - and Facing Lawsuits as a Result

"They were betting a pandemic wasn't going to hit," insurance and business lawyer Kirk Pasich tells TheWrap

Not only have insurance companies that have covered film and TV productions for decades stopped writing new policies, but many are refusing extensions to previously issued policies due to pandemic-related shutdowns or are finding loopholes to cancel coverage.

As a result, productions have begun filing lawsuits over the dropped coverage. Hoosegow, a production company that is producing the upcoming Ben Affleck thriller "Hypnotic," sued Chubb National last month and argued that Chubb reneged on the terms of its Film Producers Risk policy "to protect the insured should events preclude or disrupt the production of a motion picture or television show."

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Beatrice Verhoeven

Film Editor, Twitter: @bverhoev