The final curtain is about to fall on one of the industry’s top bond guaranty companies. International Film Guarantors has been gutted by its parent company’s decision to switch its allegiance to IFG’s main rival, Film Finances Inc.; Fireman’s Fund instead will insure that firm’s film-completion guarantees starting in early summer. That leaves IFG out in the cold, and the Santa Monica-based company that has bonded hundreds of films over more than two decades soon will be shuttered. Deadline hears that IFG will continue to take new bonding business through July 1, when the Fireman’s-Film Finances deal is expected to close, but will wind down from there. All bonds issued by IFG through that date will continue to be backed by Fireman’s Fund. We hear that there have been no immediate layoffs at IFG but that all staffers including top management will be exiting – some leaving by July and others staying into the fall to work on projects already bonded by the company.
This article was printed from https://deadline.com/2013/05/ifg-closing-international-film-guarantors-firemans-fund-496230/