Insurance and the 2023 Hollywood labor strikes

Hundreds of films, television shows, awards programs, and entertainment industry festivals and conventions went dark this year due to concurrent strikes by the Writers Guild of America and the Screen Actors Guild — American Federation of Television and Radio Artists. While the former announced a tentative agreement recently, actors continue to strike.

The economic trickle-down effect from these strikes has been severe. Consider that the average cost of making a major motion picture is around $100 million, according to Investopedia, and economists estimate that billions of dollars have been lost nationwide due to this year’s writer and actor strikes.

A myriad of financial exposures come along with film and TV productions. It follows that they often carry several types of insurance.

In this episode of the Insurance Speak podcast, Bill Johnson, CEO of The Liberty Company Insurance Brokers and someone who happens to have an entertainment-industry background, speaks about common film and television production risks, coverages and claims.

To hear our full conversation, listen to the podcast episode above or subscribe to Insurance Speak on Spotify, Apple Music or Libsyn.

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