Marsh Commercial, a leading UK insurance broker and risk advisor and part of Marsh, is to administer the UK Government’s new £500 million scheme to kick-start film and television productions struggling to get COVID-19 related insurance.
The Film and TV Production Restart Scheme, led by the Department of Digital, Culture, Media and Sport (DCMS) and Her Majesty’s Treasury (HM Treasury), will help domestic TV and film productions that have been halted or postponed to get back up and running. The scheme will fill the gap left by the lack of available insurance and will cover Coronavirus-related losses for cast member and crew illnesses as well as filming delays or disruptions caused by the virus, giving production companies confidence that they will be supported if future losses incur due to COVID-19.
Marsh will facilitate the application and onboarding process for production companies and manage the end-to-end claims process. Companies will need to meet certain criteria to be eligible for the scheme unlike typical contracts of insurance. Marsh was selected for excelling in several areas; access to expertise and experience through Marsh’s UK & Ireland Sports Entertainment & Media Industry Practice, its methodology for enabling the scheme, and its loss-adjusting proposition.
David Scutt, Head of the Worcester Enterprise Centre of Excellence, Marsh Commercial, said: “The UK’s film and TV industry is worth £12 billion to our economy and we look forward to bringing our skills and expertise to help jump start this much–loved sector. By supporting this important Government scheme, we will empower production companies to get back on their feet while playing a vital role in aiding economic recovery following COVID-19.”
Oliver Dowden, Secretary of State for Culture, Media and Sport, UK Government, said: “From award-winning dramas, to iconic comedies and revered documentaries, the UK makes the films and TV shows the world can’t wait to watch. This support from the government means more clapperboards snapping into action in studios across Belfast, Glasgow, Cardiff, Watford and many more. Our screen industries are high growth, jobs creating and showcase the best of British creativity and innovation, and I’m pleased we can give them this jump-start to get the cameras rolling again on this £12 billion industry.”
Production companies are able to apply online for the scheme. The registration deadline is 23:59 GMT on 31 December 2020, and claims will be able to be submitted up to 23:59 GMT on 30 November 2021 for losses incurred up until 23:59 GMT on 30 June 2021.
The Scheme Rules and Explanatory Notes for the Film and TV Production Restart Scheme, published by DCMS and HM Treasury.