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Commercial Insurance Offers Real Solutions For The Entertainment Industry

bigstock-Clapper-board-film-reel-and-f-45132883Commercial Insurance 101

If you are involved in any entertainment operation, you know how important it is to keep your production running smoothly. There is nothing worse than an interruption in your production that may cause you to under deliver products or services to your producers, studio or networks. One very important parts of running a company, is ensuring that you have proper entertainment insurance coverage.

What Is Commercial Insurance For The Entertainment Industry?

Entertainment insurance is designed to protect your business from unforeseen losses like fire, theft, business income loss, and third party liability claims.

There are many different kinds of coverage that can be included in a commercial insurance policy, and depending on your business, you may need other specialized coverage including:

  • Property- including coverage for props
  • Business income- loss of potential income
  • Inland marine- coverage for drones, cameras, etc
  • Workers’ compensation- including injury to stunt professionals
  • General liability-
  • Professional liability- copyright infringement coverage
  • Automobile
  • Director and officers
  • Employment liability

It is important to use an agent with commercial experience to help your business find the right combination of coverage, price, and service.

MovieInsure.com 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

Your Experience Mod Is Your Workers’ Comp Identity

xcdeIt is a fact that many entertainment employers actually overpay for their workers’ compensation premiums.  According to the latest reports, employers are paying around 20% more in surcharges than they need to. Most surcharges come from increases in the experience modification factor (mod).

The experience mod is a factor unique to each employer. In simple terms, this formula is designed to compare a specific employer’s historical claim and payroll data, to other employers with similar business operations. An individual employer’s experience mod is calculated using claims data compared to premiums from the three most recently completed years, excluding the expiring term.

Key points to consider

  • If your losses are increasing, your mod most likely will go up even if your payroll goes down.
  • The frequency of losses hurt you more than the severity of losses.
  • It is important to check the calculations on the experience modification worksheet each year.
  • The most common errors are incorrect or incomplete payroll data.
  • Your workers’ compensation mod is the single most important factor insurers use to identify your risk.
  • Your mod can be reduced through effective safety and loss control programs.

How to reduce your mod?

  • Develop a safety program.
  • Reward safety in the workplace.
  • Start a return to work program.
  • Complete regular safety inspections.
  • Investigate every accident and make corrective actions if needed.
  • If you suspect fraud, immediately inform the insurance company.
  • A disciplinary program also should be incorporated into the safety program; it should hold employees accountable for breaking the rules.

We are proud to offer specialized coverage for production and event insurance of all types. MovieInsure.com 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.

 

Employee vs. Independent Contractor For The Entertainment Industry

bigstock-Lighting-The-Director-38194939Entertainment firms have many decisions to make regarding how their companies are run; whether to lease or buy a building, how to manage accounting functions, and human resource management just to name a few. One big decision is deciding between the option of hiring employees or using subcontracted professionals to manage work flow. There are pros and cons to each one. Our hope in this article is to provide you with information to help you through the process.

Many times entertainment firms need to hire independent contractors as jobs are only for the period of the production or event. Your entertainment insurance and workers’ compensation should address these coverage issues.

Advantages of hiring an employee

  • Employees can sometimes take on multiple roles within the firm.
  • Work flow and managing projects can be more effective with an employee.
  • Employees will have strong loyalty to the business which can result in increased productivity.
  • It is easier to manage employees, as the business has more control. Independent contractors will have other clients to report to and manage.
  • With employees, your costs can be fixed to some degree. Independent contractor rates will vary depending on market demands.

Advantage of using an independent contractor

  • No health benefits need to be paid to a contractor. Health costs can add over $5,000 annually to the per employee cost.
  • Your cost tends to be focused on specific tasks or projects.
  • Ability to have work on demand. Many small businesses may have seasonal needs or business work flow that is better suited to an independent contractor rather than another full time employee.
  • Reduced overhead. With a contracted employee, businesses don’t have the added costs of phones, workers’ compensation, computers, training, benefits, and payroll.
  • You will have less management responsibility with an independent contractor.
  • Depending on the functions, independent contractors may have more skills and training giving you the same advantages as larger firms.

As you consider this topic remember that there are tax and legal issues you should consider. We recommend you consult with professionals for specific information. A few final thoughts:

  • If you hire an independent contractor just to get around benefits and legal issues and the contractor works exclusively for your firm, they may not be considered truly independent.
  • Under workers’ compensation laws, if you control the person and work to a large degree, you may not be able to avoid responsibility. Check with your insurance agent.
  • Depending on the function, you may want the independent contractor to have professional liability insurance.
  • We recommend you have a written agreement with the independent contractor which should outline all legal issues.
  • The IRS uses 20 factors to determine if a worker is an employee or an independent contractor. However, it is their interpretation (although it could be challenged). Not all factors apply in each case or carry the same weight. http://www.uncsa.edu/formsprocedures/IRS.htm

We are proud to offer specialized coverage for production and event insurance of all types. MovieInsure.com 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.

 

 

 

Insurance For Promoters and Event Planners

bf g65What Coverage Do I Need for My Special Event?

Are you involved in promoting a special event? Special Event Insurance must be part of your planning. Special Event Insurance can provide the necessary security to ensure that if something does go wrong, you and your guests are protected.

What is Special Event Insurance?

There are many different kinds of Special Event insurance. Depending on your event, there is insurance coverage that addresses the specific risks. Special Event Insurance is designed to protect the event sponsors or planners against liability claims associated with the event. Claims can come from participants, vendors, and other third parties. Here are a few of the different kinds of events that require insurance:

  1. Festivals– This kind of event would include a community gathering in celebration of a community leader, special day, or organization. These events often include food and activities consistent with a theme. Festivals are usually held in parks or other public places which creates liability for the event sponsors. Festival Liability Insurance is the perfect solution to help sponsors manage these risks.
  2. Music/Concert Events – Concerts are events where the sponsor is responsible for managing a large or small crowd around both professional and nonprofessional performers and musicians. Concert sponsors have a responsibility to manage crowds, provide security, and deal with the “talent”. Concert Event Insurance is the most effective method to protect against liability that can occur during concerts and other music related festivals.
  3. Holiday Festivals– Holiday Festivals are usually centered around a specific cultural or religious holiday. They can include crafts, food, performers, and even alcohol. Holiday Festivals, like other events, create liability for the event sponsors. Special Event Insurance provides the necessary coverage to protect the sponsors and other liable parties such as the building owner.
  4. Private Business Events– Companies large and small plan and organize client events, employee training, seminars, and parties. Much like weddings, these events create liability to the company organizing them. Special Event Liability Insurance can provide protection against claims that might arise from third parties.

All Concerts, Festivals, or Special Events have common risks that Special Event Insurance can cover. When planning your special event concert, or wedding, the following insurance should be included:

MovieInsure.com 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

Does Your Production Involve Animals?

DeerRoadAnimals 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.”

Food Safety Lessons From Chipotle

Risk ManagementBy now we have all heard about the food safety issues facing the Chipotle restaurant chain. Getting sick while eating out is actually a very common occurrence, and with Chipotle under the microscope, they may now actually be one of the safest places to eat. According to (foodpolitics.com) the main issue at Chipotle was linked to E. coli. The most recent CDC report (December 21) counts 53 cases of E. coli 026 from 9 states, with 20 hospitalizations.

Your entertainment company, or special event may have a food exposure. Here are a few tips to keep help you. Special Event Insurance must be part of your planning. Special Event Insurance can provide the necessary security to ensure that if something does go wrong, you and your guests are protected.

Entertainment Food Safety Tips

  1. Keep the kitchen clean.
  2. Require all employees to wash hands before working in the kitchen.
  3. Require employees to wash hands after using the restroom.
  4. Make sure all food workers are properly trained.
  5. Wash all produce.
  6. Keep meats separated from other food.
  7. Cook all foods at appropriate temperatures.
  8. Toss out old food every Friday from the office kitchen.
  9. State and county health departments are the direct enforcers of local, state, and federal health regulations. When operating a commercial kitchen, it is important to know the local health codes to avoid fines and prevent foodborne illness outbreaks.
  10. If you are having an office party, you may want to consider purchasing foods.
  11. Proper cleaning and sanitizing of all food contact surfaces and utensils will reduce germs.
  12. Clean all food equipment daily.
  13. Never let food sit out for long periods of time.

MovieInsure.com 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

 

Workers’ Compensation Best Practices For The Entertainment Industry

As a business owner in the entertainment industry, you go to great lengths to provide a safe working environment for your employees. But when dealing with humans, accidents can happen and Workers’ Compensation Insurance can help. Workers Compensation Insurance should be an important part of your entertainment risk management program.

What is Workers’ Compensation?

Workers’ compensation insurance is insurance that provides lost income, medical benefits, disability benefits, and rehabilitative services for workers injured on the job or while performing work-related duties.

Why Your Business Needs Workers’ Compensation Insurance

When one of your employees gets hurt on the job or has a work-related illness, only workers’ compensation will cover them. Health insurance benefits will not provide coverage for on the job injuries.

What Is The Best Way To Keep Costs Down?

  • Provide training for hazardous work, especially for new or inexperienced workers.
  • Enforce safety rules and practices.
  • Enforce drug and alcohol rules.
  • Require safety equipment to be worn at all times.
  • Keep work areas clean.
  • Do not wear loose clothing or jewelry around machinery.
  • Where required, you must wear protective equipment such as goggles, safety glasses, masks, gloves, hair nets, etc. appropriate to the task.
  • Safety equipment such as restraints, pull backs, and two-hand devices are designed for your protection. Be sure such equipment is adjusted for you.
  • Do not ever remove machine safety guards.
  • Develop a system for reporting unsafe practices.
  • Have monthly safety meetings that review safety issues and related topics.
  • Create accident investigation procedures that focus on prevention and change.

MovieInsure.com 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.

Insurance For Promoters and Event Planners


pixa free fWhat Coverage Do I Need for My Special Event?

Are you involved in promoting a special event? Special Event Insurance must be part of your planning. Special Event Insurance can provide the necessary security to ensure that if something does go wrong, you and your guests are protected.

What is Special Event Insurance?

There are many different kinds of Special Event insurance. Depending on your event, there is insurance coverage that addresses the specific risks. Special Event Insurance is designed to protect the event sponsors or planners against liability claims associated with the event. Claims can come from participants, vendors, and other third parties. Here are a few of the different kinds of events that require insurance:

  1. Festivals– This kind of event would include a community gathering in celebration of a community leader, special day, or organization. These events often include food and activities consistent with a theme. Festivals are usually held in parks or other public places which creates liability for the event sponsors. Festival Liability Insurance is the perfect solution to help sponsors manage these risks.
  2. Music/Concert Events – Concerts are events where the sponsor is responsible for managing a large or small crowd around both professional and nonprofessional performers and musicians. Concert sponsors have a responsibility to manage crowds, provide security, and deal with the “talent”. Concert Event Insurance is the most effective method to protect against liability that can occur during concerts and other music related festivals.
  3. Holiday Festivals– Holiday Festivals are usually centered around a specific cultural or religious holiday. They can include crafts, food, performers, and even alcohol. Holiday Festivals, like other events, create liability for the event sponsors. Special Event Insurance provides the necessary coverage to protect the sponsors and other liable parties such as the building owner.
  4. Private Business Events– Companies large and small plan and organize client events, employee training, seminars, and parties. Much like weddings, these events create liability to the company organizing them. Special Event Liability Insurance can provide protection against claims that might arise from third parties.

All Concerts, Festivals, or Special Events have common risks that Special Event Insurance can cover. When planning your special event concert, or wedding, the following insurance should be included:

MovieInsure.com 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

Does Your Production Involve Animals?


donkey-657593_1920

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.”

Property Insurance For Film & Production Companies

Property insurance is critical to all film and entertainment firms. You have hundreds of thousands of dollars’ worth of equipment that you need to run your productions. The entertainment property policy you purchase has many different terms and we thought it would be good to review.

Covered property includes your equipment and related property used in the entertainment industry including audio, visual, computer, recording, lighting and projection equipment, wardrobes, props, costumes, and fine arts, as well as similar property of others that is in your care, custody, and control.

Property Loaned, Leased or Rented to Others-You’ll have coverage for direct physical loss to covered property you own that you loan, lease, or rent to others.

Accounts Receivable- Coverage is provided to reestablish accounts receivable records damaged as a result of a covered, direct physical loss.

Extra Expense- Commonly used equipment is easily and quickly replaced. Specialized or customized equipment may not be. To help you keep your performance commitments, your policy can cover the necessary and reasonable expenses up to a specific limit to expedite the repair or replacement of covered property. We can also cover the expenses to temporarily rent replacement property until your damaged property can be reasonably repaired or replaced.

Business Personal Property-Your policy covers direct physical damage to your business personal property resulting from a covered cause of loss.

Note: All coverage described here would be subject to specific limits depending on policy terms.

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.” We can act as “brokers” or as “agents” depending on the product sold and/or our relationship with the actual insurance carrier.