The Federal Government has confirmed the $50 million Temporary Interruption Fund will provide coverage if productions incur additional expense due to delays caused by COVID-19.
While insurance companies and other financiers worldwide have excluded COVID-19 from their policies, Melbourne-based Elevate Production Finance is stepping into the breach.
CJZ MD Nick Murray and See-Saw Films' Emile Sherman have made a detailed submission urging the Federal Government to underwrite the risk of productions having to shut down or replace the director or key cast due to the coronavirus pandemic.
CJZ MD Nick Murray has a cautionary message for those who are calling on the Federal Government to double the Producer Offset for TV productions to 40 per cent: Be careful what you wish for.
Stan is in production on another sport-based documentary series, this time focusing on Australia's rugby union team as they prepare for the 2023 World Cup in France.
The Federal Government is evaluating more than than 300 submissions to the options paper review, which is designed to lead to a platform-neutral regulatory framework.
Paul Fletcher acknowledges the urgency of resolving the COVID-19 insurance risk issue for screen productions and other sectors, and promises to formulate the Federal Government's media reforms as quickly as possible after the consultation period.
Fremantle Australia and CJZ both want the TV Producer Offset to be doubled to 40 per cent and the Offset extended to entertainment shows - but beyond that they have sharply different views on key aspects of media reforms.