How Insurance Works For The Entertainment Industry

California entertainment Insurance is a means of providing protection your firm against financial loss in a variety of situations. It is a contract in which one party agrees to pay for another party’s financial loss resulting from a specified event.

Entertainment Insurance works on the principal of sharing losses. If you wish to be insured, against any type of loss, agree to make regular payments, called premiums, to an insurance company. In return, the company gives you a contract, the insurance policy. The company promises to pay a certain sum of money for the type of loss stated in the policy.

Businesses buy property and liability insurance to protect their assets against financial loss. Property insurance provides direct compensation if a policyholder’s buildings or equipment are damaged, destroyed, or lost as a result of covered perils. Liability insurance protects individuals and businesses against possible financial losses if their actions result in bodily injury to others or in harm to property owned by others.

Financial stability and strength of the insurance company should be a major consideration when purchasing an insurance contract. An insurance premium paid currently provides coverage for losses that might arise many years in the future. For that reason, the viability of the insurance carrier is very important. In recent years, a number of insurance companies have become insolvent, leaving their policyholders with no coverage (or coverage only from a government-backed insurance pool with less attractive payouts for losses).

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. 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.