Allianz Sees Surge In Claims From Entertainment Industry

Law360, London (October 6, 2020, 1:11 PM BST) -- The specialist division of German insurer Allianz said on Tuesday that it has set aside €488 million ($575 million) for claims linked to COVID-19 restrictions, most of which is expected to come from the film, TV and events industry.

Allianz Global Corporate and Specialty said in a report that it has received "thousands" of claims over canceled live events or delayed film productions. The claims stem from restrictions imposed by governments around the world, many of which have resulted in a payout.

"The cancellation or postponement of events and productions is one of the largest sources of COVID-19-related losses for the global...

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