The Independent Producers Organisation (IPO) has been working hard with the insurance sector in an effort to motivate Government to establish an industry Pandemic Insurance Indemnity Fund, as several countries around the world have done, in an effort to reboot the industry. Without pandemic insurance cover, it is not possible to get a full completion bond, without which it is almost impossible to secure financing for your project and get into production or which leaves the producer carrying enormous risks if you do.
“We need your urgent assistance to get comprehensive industry information to substantiate the facts and figures in our proposal, and provide a compelling case to government. If you have, or might have, a production that is unable to commence or to finalise funding due to a lack of pandemic insurance, Please complete this quick survey. We assume that any project which is being serviced by a SA producer would have insurance arranged by the client/ studio and are therefore excluding those productions,” read the organisation website.
“Please note, because we anticipate your possible reluctance to share what may be perceived as confidential information with the IPO, this survey will be returned to and coordinated by an independent 3rd party, the South African Insurance Association. No individual responses will be assessed, only global totals will be factored into the proposal.”