Author Archives: djaiden68

Entertainment Industry Needs Business Interruption Insurance

Photographer Holding Shutter Release Cable

Coverage for every movie production company

Business Interruption Coverage is part of production insurance policies. This coverage is most commonly found in Commercial Property Insurance Policies and Business Owner’s Policies (a package policy for small businesses, often referred to as a “BOP”). If you own a production, film, TV, media, or Entertainment Company, California Entertainment Business Interruption insurance should be part of your program. Remember MovieInsure.com specializes in your industry. There are a number of important elements to Business Interruption Insurance:

  1. Coverage is triggered by a covered loss; for example fire, wind, etc.
  2. There is a waiting period that acts like a deductible.
  3. Coverage is limited to lost net income, temporary relocation, and ongoing expenses such as payroll that enables businesses to continue paying employees rather than laying them off.
  4. There is a time period for recovery, usually 12-18 months.

Extra Expense Insurance reimburses your company for expenses, over and above normal operating expenses, to avoid having to shut down during the restoration period. Usually, extra expenses will be paid if they help to decrease business interruption costs

Business Interruption Insurance can be as vital to the survival of your production firm, studio or company as Fire Insurance. Make sure your policy limits cover a sufficient amount of time to rebuild your business. It can take more time than anticipated after a major disaster to get your business functioning again.

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

Why Your Insurance Agent Is Your Best Friend

hand shaking

Are you frustrated with the lack of good customer service? Are you tired of calling a company and getting someone in a foreign county? When you go to the store and ask for help, do you get a teenager who knows less than you do about your questions?

If you are looking for entertainment insurance it can be much easier than you think. Working with an independent agent will save you time and money on your personal insurance. We can produce an entertainment insurance policy that fits your needs. MovieInsure.com Insurance Services produces entertainment insurance that will match your risks. We work with many of the leading insurers in the entertainment industry.

Why You Should Be Your Agents Best Friend

  • Agents care about helping you find the best combination of price, coverage, and service.
  • When you call our agency you get a licensed professional who can actually answer your questions.
  • We take time to find the best option for you.
  • You will get more choices of insurance products and companies.
  • Our employees live and work in your community.
  • If you have a claim, you have an advocate to help you.
  • We can make insurance easier to understand.
  • The insurance agent will not try to make you focus on a particular brand or company, but will instead be focused on helping you find the best price and coverage.
  • We offer many online services you may desire, always backed up by a real person.

We know which companies have the best track record when it comes to pleasing their policy holders. We can narrow your options down and help you choose between the best insurance companies in the market. Not all insurance agents are the same! Choosing the right one can make a big difference – in price, service, and value. Our agency has a proven track record, we live here and we understand the needs of our neighbors.

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.

The Benefit Of An Entertainment Insurance Review

file0001564894818

Our agency is founded and run on the philosophy that client’s needs come first and foremost. We know you hear that a lot, so we wanted to tell you how we carry out our philosophy day to day. This article is the continuation of our series on how to think differently about insurance.

Every client deserves an annual insurance review. The review may take different forms depending on the individual circumstances. We can produce an entertainment insurance policy that fits your needs. MovieInsure.com Insurance Services produces entertainment insurance that will match your risks

Benefits To An Insurance Review

  • Keeps your program up to date
  • Provides opportunity for feedback on services
  • Allows for the partnership to review goals
  • We take time to review key exclusions and other coverage items
  • You may need to modify, reduce or add coverage depending on your current situation
  • The review does not need to take a long time

Business Insurance Review

A business review is important because risk is constantly changing. Maybe your operations have not changed, but laws and other statutes can impact your risk and need to be addressed. Here are a few examples:

  • Prices change and a review can determine if you are getting competitive rates on your insurance.
  • Your coverage needs may have changed and your policy should reflect these changes.
  • There may be new insurance companies to which we have access.
  • Laws and regulations are changing and may require a different kind of insurance. 

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

Entertainment Property Insurance….Coverage Is King!

Photographer Holding Shutter Release Cable

Most every entertainment business owns business property, and may also own the building in which you run your operations. Property insurance protects the physical assets your nonprofit owns – such as computers, office equipment, buildings, furniture, fixtures, and other property.

Every business should have a comprehensive property insurance portfolio to respond to the many risks associated with property ownership. Property policies offer many unique kinds of coverage, some of which we have highlighted:

  • Building Coverage – allows you to quickly rebuild or repair buildings or other property damaged by fire, theft, natural disaster or other events, allowing you to return to normal operations.
  • Cameras and Other Equipment – production and entertainment companies have expensive equipment that needs to be insured correctly.
  • Business Personal Property Coverage – covers costs to replace the contents in your building if they are stolen or destroyed by a covered unforeseen event.
  • Business Income Coverage – provides for continued income or lost revenues while the building and its contents are being rebuilt and replaced. Business income helps you to cover operating and normal payroll expenses needed to keep an organization operating after a loss, usually for a specific time period.
  • Building Ordinance Coverage – covers the increased cost to comply with building codes, ordinances or laws that have changed after your building was originally constructed. For example, under revised building codes you may now be required to install sprinklers which would increase the value of construction.
  • Outdoor Signs and Property Coverage – covers costs to replace outdoor fences, signs, trees, shrubs or plants.
  • Equipment Breakdown Coverage – covers loss due to failure or breakdown of equipment such as boilers, heating systems, and electrical equipment.
  • Computer Coverage – covers costs to replace or repair damaged hardware, software, data or media vital to your operations.
  • Earthquake Coverage – provides insurance to repair or replace damaged equipment and/or buildings resulting from an earthquake. Earthquake coverage is typically excluded under most property policies.

 

The Show Must Go On

bigstock-Lighting-The-Director-38194939

California Entertainment Insurance

The epic movie Gone with the Wind cost $4 million to produce in 1939. In 2015, that amount would not even cover the cost of a leading man. The movie and entertainment business has changed over the years, and so have the risks that are involved in creating the next academy award winner. MovieInsure.com Insurance Services produces entertainment insurance that will match your risks. We work with many of the leading insurers in the entertainment industry.

The world is getting smaller, and movies, commercials, and documentaries are being produced all over the world. Digital technology is rapidly changing the landscape of cinematography, post production, and distribution. The entertainment business is much more complex and litigious, creating the need for the right kind of insurance.

We offer the complete entertainment insurance package.  Here are a few of the insurance products we provide:

Cast Insurance – In the event of a production delay, cast insurance protects against extra expenses (such as salaries and equipment rentals) until production can resume.

Film – Film, videotape, and other video or audio media can be easily damaged.  Insurance can replace damaged, lost or stolen film.

Props – Props, sets and costumes are an important part of any production, and they need to be insured.  Insurance helps protect against the costs required to repair or replace those unique items.

Event Cancellation – This coverage is designed to respond to almost any unexpected circumstance that causes the cancellation, abandonment or postponement of an event.

Professional Liability – Your Company can be sued for improper use of an image, copyright infringement of a song or script, or contract negotiations.

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

 

These Issues Are Reshaping Your Business & Insurance Program

Insurance

Last month a driverless car drove from San Francisco to New York. See Article. The future is now, and if you want your business to compete over the next few years you may want to pay attention to the following topics. There are a number of factors that will affect the business of insurance in the near future.

Entertainment Insurance

We can produce an entertainment insurance policy that fits your needs. MovieInsure.com Insurance Services produces entertainment insurance that will match your risks. We work with many of the leading insurers in the entertainment industry.

Technology

Our world has gone digital. Technology has changed the way you relate with your customers. Have you invested in the right technology, and do you have it insured?

Cyber Liability

With the growth of technology, we can now access and store data from our cars, homes and while on the go. This creates a real need to have effective data security, the most up to date protection, and policies and procedures for use and storage. Part of cyber management includes having a cyber-liability policy for your business.

The Next Generation of Leaders

Millennials will lead the next generation in the workforce. Is your business prepared?  Millennials like to live and work in the same community, use public transportation and work from home.

Employment Liability

If you have employees, you are exposed to potential employment liability claims. Employees know their rights, and it is time for all employers to become more informed about how to protect their companies. An EPLI policy covers claims made against directors, officers, employees, the company and its subsidiaries.

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.

You Just Started A New Production Company…Now What?

bigstock-Clapper-board-film-reel-and-f-45132883

Entertainment Business Insurance

Startup businesses in the entertainment industry are exposed to a wide variety of issues including business insurance, risks, and concerns. There are many different decisions that, as a new business owner, you need to make, and selecting the right commercial insurance is one of them.

The first thing you need to do is hire the right agent to help you through the process of obtaining the right kind of commercial insurance. We recommend you choose an independent agent to help you. Independent agents have access to many different markets and can provide the right combination of commercial insurance products and services.

The purchase of entertainment insurance is an essential investment for business owners. Insurance policies protect the business from the financial consequences of accidents and mishaps that could erode profitability and threaten continuity of the operation.

Property- Damage or loss of buildings and equipment

Liability- Injury or claims from customers or other third parties

Errors and Omissions- Covers legal liability and defense for the production company against lawsuits alleging unauthorized use of title, format, ideas, characters, plots, plagiarism, unfair competition or piracy.

Props, Sets and Wardrobe-  Provides coverage on props, sets, scenery, costumes, wardrobe and similar theatrical property against risks of direct physical loss, damage or destruction occurring during the production.

Workers’ Compensation- Injury to employees as outlined by state statutes

Automobile- Direct damage to your vehicles and liability for the operation of your vehicles

Insurance for business operations is complex, and when considering the purchase of insurance it’s vital to take into account all of the risks that face a business. It is also important to remember that insurance needs change over time as a business grows or diversifies its operations.

 

Insurance Plays an Important Role in Movie Productions

1395895_375927075881760_600285304_n

A few years ago we were all shocked and saddened by the sudden and tragic death of Paul Walker. Paul was in the two-seater Porsche Carrera GT when the car somehow lost control and slammed into a post or a tree, and the car burst into flames. This is a good reminder of the role production insurance plays in the production of movies, films, TV shows and other entertainment productions. There are risks the production company has that can be managed through the proper insurance products. Here is some of the coverage that may apply:

Cast & Crew Insurance

Cast and Crew insurance indemnifies the production company for the loss or extra expenses to begin or complete principal work of an insured production due to death, injury or illness of any insured artist or director.

Participant Accident Insurance

Participant Accident Insurance can provide accident medical benefits and, at the sponsor’s option, may include accidental death, dismemberment, dental and disability benefits, as well.

Errors & Omissions for Film Producers

Errors & Omissions Insurance for producers offers coverage for a wide variety of entertainment/media risks against lawsuits for libel, slander, invasion of privacy, infringement of copyright and other specified torts. Generally these claims do not involve bodily injury.

MovieInsure.com Insurance Services 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.

Common Claims for the Entertainment Industry

Photographer Holding Shutter Release Cable

At MovieInsure.com Insurance Services we focus exclusively on understanding the unique needs of motion picture, television, video, music, film schools and theatrical companies.  This knowledge base allows us to structure a production insurance program specifically for each client that will be a balance of the best coverage and most economical solutions to help the client manage the risks inherent to their unique businesses.

Common Entertainment Industry Claims

  • A production company was contracted to complete a film with certain time and budget constraints. The production came in 30% over budget and 120 days late. The production company was sued for failure to perform per the contract terms.
  • An event planner scheduled a concert with an international performer. The event was planned and scheduled, with over 5,000 tickets sold. The performer got sick two days before the event and had to cancel. The event planner had Event Cancelation Insurance and had the resources to settle all claims and reschedule the event for a later date.
  • A production company had $200,000 worth of equipment damaged on set by a sudden wind and hail storm. Insurance provided full recovery.
  • A post production firm was contracted to produce 20,000 DVD’s for the Christmas season. Due to production issues the firm missed the release time and the owners of the DVD sued the firm for lost revenue.

We can help you design an insurance product that meets your individual needs. We are proud to offer specialized coverage for production and event insurance of all types.

MovieInsure.com Insurance Services 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..

How To Produce California Entertainment Insurance

bigstock-Lighting-The-Director-38194939

California Entertainment Insurance

You are in the entertainment and education business. You create and design products that truly amaze us all. In doing so, you also create risks for your company, employees and others. We can produce an entertainment insurance policy that fits your needs. MovieInsure.com Insurance Services produces entertainment insurance that will match your risks. We work with many of the leading insurers in the entertainment industry.

To protect your firm you should consider the following kinds of insurance:

  1. Worker’s Compensation- Covers injury to employees.
  2. Hired/Non-owned auto – covers the picture cars and grip trucks.
  3. Cast Insurance- Reimburses the production company for any extra expense necessary to complete principal photography of an insured production due to death, injury or sickness of any insured performer or director.
  4. Errors and Omissions- Covers legal liability and defense for the production company against lawsuits alleging unauthorized use of title, format, ideas, characters, plots, plagiarism, unfair competition or piracy.
  5. Props, Sets and Wardrobe- Provides coverage on props, sets, scenery, costumes, wardrobe and similar theatrical property against risks of direct physical loss, damage or destruction occurring during the production.

The entertainment industry is a very competitive and complex business that comes with uncommon exposure risks. Entertainment insurance can help protect against many liabilities and we are ready to help you.

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