Monthly Archives: August 2019

Employee Fraud Prevention

Employee Fraud Prevention

A recent report issued by the association of Certified Fraud Examiners places the cost of employee fraud at 7% of annual revenues. Employers with less than 100 employees saw a median loss of $200,000 according to the ACFE.

Another study performed by the Institute for Corporate Productivity and showed that 20% of all employers have some form of employee fraud. Both reports state that one of the contributing factors is the current economic downturn. MIC has all the tools to help identify the critical exposures and help design insurance products that meet your needs.

Here are some of the most common types of fraud claims: 

  1. Theft of inventory– This is commonly known as shrinkage of inventory. It is not limited to just materials or goods, it also applies to office supplies and even office equipment.
  2. Vendor kickbacks– Employees set up over payments from vendors then receive payments in cash or in the form of goods, services, or trips.
  3. Padded expense accounts– Employees can pad expense accounts, use fake receipts and even purchase personal items.
  4. Embezzlement– Employees simply siphon off money from a business, by setting up fake accounts, stealing cash, or forging checks they deposit into their own accounts.
  5. Phantom vendors– Employees set up phony businesses and produce fake invoices. This can also be in partnership with a vendor that is paid for work not performed.

 Fraud Prevention Suggestions

  • Complete background checks on all employees
  • Separate duties; split up check writing and deposit responsibilities
  • Require two signatures on checks over $250
  • Add a third person to reconcile books
  • Have an outside firm perform an annual audit
  • Hold employee training on policies and procedures
  • Install video cameras in warehouses and parking lots
  • Review your employee dishonesty coverage annually



How To Insure Animals

Animals have been used in movie-making, advertising, documentaries, print, and various production functions since the early days of the industry.  The American Humane Association has worked for many years to protect animals in films. This confirms how important animals are in movies, TV, documentaries and other productions.

Animal Mortality insurance will pay an agreed value for your animal actors if it dies from any accidental or natural cause. This coverage protects you against loss as a result of a variety of perils, including fire, lightning, windstorm, hail, theft, collision, upset while in transit, accidental shooting, and drowning.  Plus, it pays the agreed value of the animal actor if death was caused by one of the perils listed on the policy.

How it Works…it is simple

We get the resumes on the animal actors and their wranglers.  We can then write Animal Mortality coverage (life insurance) on the animals for a predetermined value.

Our mission is to serve filmmakers with the best policies their dollar can buy. Our diversified staff utilizes state-of-the-art technology to make your insurance experience with us as effortless as possible. Simply put, we are “Independent Brokers/Agents” representing you the “client”. We are licensed professionals and bring a personal touch to the delicate relationship between you, the “client” and the “insurance company.”

 What Is Risk Analysis And Why Is It So Important?

 What Is Risk Analysis And Why Is It So Important?

The term risk analysis tends to sound like a complicated thing. But simply put, risk analysis is a review of the things that might create a loss for you, your family, or business.

Why Is This important?

You have so much invested in your family, home, and business. You need to have an understanding of things that might happen, which will create a negative impact on your family and business.

What Role Does Your Agent Play?

Your agent will be your guide, consultant, and advisor through this process. It is important that you have an agent who is not interested in selling you insurance. Your agent needs to educate you on your risk, offer options, and work with you to make sure you are correctly protected.

If your agent does not understand or is not interested in this process, you will be left with inadequate protection.

If your agent offers an off the shelf homeowners policy, without asking questions and educating you might get stuck in the event of a claim. For example, you have a fire in your home and have to move out for three months during reconstruction. You will need a loss of use coverage to help offset temporary housing and other related costs. Most policies have a set amount, but your situation may call for more coverage.

We Help Make The Complex Simple

We offer a series of questions to help our clients understand their risk and what options they have to manage them, based on their individual situations.

We educate our clients so they can make informed decisions. For example, if you are renting out a part of your home, you will need special insurance, as your homeowner’s policy excludes operating a business out of your home.

If you own a home and have other financial assists, you may need a personal umbrella policy. This protects you against litigation or claims where your primary coverage is exhausted.

Let’s start a conversation on how we might be able to educate you and design an insurance program that fits your individual needs.

Who Covers Your Equipment?

Your entertainment company may own specialized equipment, like cameras, props, sets, or other production equipment that you take on location. You also may have a need for special floater coverage for a short period of time or as part of your overall insurance program. No matter what the case we can help with the best possible combination of coverage, price and service.

Entertainment Equipment Floater

  • Coverage is available for a wide variety of property, during production or while in your care, custody and control.
  • Property located on or off your premises.
  • Property in transit.
  • Coverage generally can be provided for risk of direct physical loss, including earthquake.

Types of Equipment Covered

  • Cameras
  • Production equipment
  • Sound equipment
  • Theatrical equipment
  • Editing equipment
  • Musical instruments
  • Other misc. equipment offers a wide variety of A-rated, Admitted and Non-Admitted insurance companies for our clients to choose from. We only deal with companies that are on the Insurance Commissioner’s approved list.

We service the following states: Alabama. Arkansas, Arizona, California, Colorado, Delaware, District of Colombia, Florida, Georgia, Hawaii, Iowa, Illinois, Indiana, Louisiana, Maryland, Michigan, Mississippi, North Carolina, New Jersey, New Mexico, Nevada, New York, Ohio, Oregon, Pennsylvania, Tennessee, Texas, Utah, Virginia, Washington, and Wisconsin. If you do not see your state listed here, please inquire anyway – we are growing!


Professional Liability Insurance For Producers

From small productions to Hollywood blockbusters, substantial liability claims can arise for video, film and television producers. Even where you have ensured that all necessary clearances have been obtained you never know what will happen. Video Film and Television Errors and Omissions Liability insurance provides you with the peace of mind you need.

What Errors & Omissions insurance does is indemnify producers from lawsuits that may arise from the content of a production, including lawsuits alleging:

  • Invasion of privacy
  • Unauthorized use of titles
  • Failure to obtain appropriate rights for music and film clips
  • Improper handling of unsolicited scripts
  • Unfair competition
  • Professional errors in judgment
  • Infringement of copyright
  • Breach of contract
  • Libel or slander
  • Unauthorized copying of ideas,

This coverage will usually be required by a distributor, broadcaster or financier prior to the release of any theatrical or television production. Production financing will usually not flow until E&O coverage is in force. offers a wide variety of A-rated, Admitted and Non-Admitted insurance companies for our clients to choose from. We only deal with companies that are on the Insurance Commissioner’s approved list.

We are located in beautiful Northridge, California next to CSUN..