The Government has announced a new £500 m scheme to kickstart film and TV production struggling to secure insurance for Covid related costs – the Film and TV production restart scheme.
The new UK-wide £500 million Film and TV Production Restart Scheme will help to get TV and film productions across the country that have been halted or delayed by a lack of insurance to get back up and running, by giving productions the confidence they need that they will be supported if future losses are incurred due to Covid-19. It will fill the gap left by the lack of available insurance and cover Coronavirus-related losses for cast member and crew illnesses and filming delays or disruptions caused by the ongoing battle against the virus.
This is a temporary measure, supporting productions which commence filming before the end of the calendar year and for Coronavirus-related losses through to the end of June 2021.
Subject to state aid approval, the intention is that eligible productions will receive compensation for costs caused by Coronavirus delays up to a value of 20% of the production budget.
There will be a total cap on claims per production of £5m.