Proven Ways to Reduce Your Production Insurance Cost

9836405_xlSaving money on your production insurance is not always an easy thing for many companies to do. You have many options regarding insurance agents and insurance companies that at times can be confusing.  There are several ways to reduce your production insurance cost without jeopardizing coverage. Here are a few;

  • Use a broker who knows and understands your industry. Having an understanding of your risks, and what markets are best suited for your risks, can result in lower costs. Have us shop your insurance. We have access to many insurers, which allows us to offer you many options.
  • Provide driver’s training. Having educated and trained drivers can reduce your business auto insurance cost by up to 5%.
  • Have proper safety equipment. Do you have sprinklers and central station smoke detectors? These can help reduce insurance costs.
  • Remove irrelevant coverage. Before agreeing to a business insurance policy, ask us which items are optional endorsements. Some endorsements can be removed if you don’t require the coverage. Removing irrelevant coverage can reduce your insurance premium.
  • Combine all your commercial insurance into one package. Insurers often give credits for more than one line of insurance (Property, Auto, Liability, Excess, Professionals).
  • Increase deductibles. Insurers will often provide good credits if you increase your deductibles on property or auto physical damage.

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

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!

 

A Little Preparation Can Get Your Entertainment Business Running After a Loss

Risk ManagementA Entertainment Insurance Update

No one wants to think about an event so severe that it would cause your business to close.  However, disaster planning needs to be part of your ongoing business plan.  Major events can include floods, storms, data breach, fires, accidents, death of an owner, or lawsuits.  Whatever the risk, a little pre-planning can go a long way toward getting your business up and running again.

A key part of your plan should be a review of your business insurance program.  Your business insurance should include the following:

Property insurance: Covers your buildings, equipment, machines, and other property from loss or damage. Coverage should include business income coverage.

Commercial Liability Insurance: Provides coverage for bodily injury and property damage you cause to others.

Commercial Auto Insurance: Covers your company vehicles if they are involved in an accident. It can also cover your business if you, or an employee, uses a personally owned vehicle on behalf of the business.

Cyber Liability Insurance: This insurance can protect your business from a data breach.  If your business stores sensitive or non-public information about employees or clients, you are responsible for protecting that information.

Management Liability Insurance: Management Liability can encompass these important business insurance coverage’s; Professional liability, and Directors and Officers Liability.

Having the right kind of entertainment insurance is not the only thing your business should consider. You need to develop a plan in the event your business is shut down.

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.

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

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!

 

How To Hire Part Time Seasonal Workers

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Many entertainment companies may be hiring part time workers to fill production needs. For the most part, you will not need to modify your business insurance, but if you add new classifications or payroll, it may affect your workers’ compensation insurance.  Now might be a good time to have us complete a review of all your business insurance policies.

Here are few tips to help you manage seasonal employees

  • Make sure part time employees get the same training as all other employees.
  • Conduct background screenings on part time candidates.
  • Unless the job requires it, it is not a good idea to give seasonal employees access to computers or other secure information.
  • Don’t allow seasonal employees to work alone.
  • Remember the Fair Labor Standards Act (FLSA) requires employers to properly classify workers, pay the legal minimum wage, and pay overtime if applicable.
  • Part time employees should also read and sign the employee handbook.
  • Your business is legally required to carry workers’ compensation insurance coverage, as most fair-employment laws cover seasonal employees.
  • If you notice cliques or bad habits forming, don’t assume that they will self-correct.
  • Employers with 15 or more employees are subject to Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, and other federal and state employment laws. This means your seasonal employees, just like your regular workforce, must receive adequate training on what conduct is illegal, how to report it, and how to request a reasonable accommodation.
  • Maintain a detailed account of where each employee works, the kinds of tasks they are assigned, number of hours completed, and their rate of pay.
  • When it is time to end the part time employment, follow the same procedures as you would with a full-time or permanent employee.

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

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!

 

Save On Your Entertainment Insurance

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The purchase of business insurance is an essential investment for producers and others. Insurance policies protect the business from the financial consequences of accidents and mishaps that could erode profitability and threaten continuity of the operation. Entertainment Business insurance can be expensive, so we wanted to give you a few tips in how to get the most out of your business insurance purchase.

  • Combine your business auto, property, and liability into one package.
  • Call com, we specialize in the entertainment industry.
  • Take a close look at your policy and make sure you have the coverage you need. There may be coverages you have that you do not need.
  • Look to insurers that offer loss control help. This will help you manage your risk and keep claims as low as possible.
  • Is your deductible too low? You may save more than you think by increasing your property deductible to $5,000 or even $10,000. If you generally have no loses this may save you money.
  • Each insurer is different, but you might save by paying your premium in full upfront.

Commercial insurance is one of the most important products a new business needs. Our agency can help you review your risks and guide you through the process of securing the right combination of coverage and price.

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..

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

 

Is Your Entertainment Business Ready For The New DOL Overtime Rules?

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Entertainment Insurance Update

Is your business prepared to undertake new overtime rules that will be set into place on December 1, 2016?  If you are fined because of non-compliance, your business insurance will not provide coverage.  Business insurance policies are not designed to cover government fines.

The US Department of Labor (DOL) released the final rule that raises the white-collar overtime exemption threshold under the Fair Labor Standards Act (FLSA).  The new regulations take effect on Dec. 1, 2016. Your business will need to start tracking hours for exempt salaried employees who make under $47,476.

Options for employers

  • Pay these employees time and a half for overtime.
  • Increase workers’ compensation above the minimum.
  • Limit work hours to 40 per week.

Fact sheets and other materials to help employers and workers understand how the rule will affect them and the broader economy are available dol.gov/overtime.

Here is a link to the Department of Labor’s web page. Click here

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..

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

 

Movie Insure Offers A Wide Range Of Entertainment Insurance

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Whether you seek short term production insurance for your short film, or an annual policy for your feature, documentary, and music video productions, we are able to provide you with the coverage you need. Each client and their projects are underwritten and consideration given to the nature, budget, permits, location, and needs of the film production itself.

Here Are A Few Products We Offer

Multimedia Production E&O–  Provides Producers & Distributors E&O Coverage. Limits up to $5,000,000, coverage term up to 3 years.

Foreign Productions– Provides the full spectrum of insurance coverages at competitive premiums for foreign productions of any budget, up to 12 months in duration. Single Production and multiple production (annual policies) are available.

Photographers & Videographers– The Photographers program covers photographers, videographers and DJs that provide their services to public and private functions.

Entertainment Equipment Floater– All risk, worldwide coverage for scheduled entertainment related equipment including Cameras, Production, Editing, Musical, Theatrical and miscellaneous items.

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..

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

 

How Can Your Entertainment Business Limit Lawsuits?

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Entertainment Business Insurance Update

Your production company not only creates income for you, it may provide employment for other people.  Small and medium entertainment businesses are subject to the same risks as major corporations. You buy business insurance to help protect your business for claims and litigation that may come from a variety of sources.

Remember, your entertainment business insurance can be designed to protect you from unforeseen accidents and lawsuits because of your business operations.  The government, customers, employees, and other third parties can sue your business.  Here are a few tips from business attorneys that might help reduce the chance that your business is involved in litigation.

Review all leases and contracts to make sure that you have addressed all your legal obligations, including insurance requirements.  We recommend the use of an attorney, and call our office so we can determine what is required of you for your business insurance.

Make sure you have a comprehensive employee handbook that outlines your policies and procedures. This should include a sexual harassment policy.

Provide training for all employees annually on your policies and procedures.  Effective training enables your organization to comply with all legal requirements, thereby avoiding costly lawsuits, audits, and fines.

Make sure your business complies with all OHSA laws and rules. Many OSHA standards explicitly require the employer to train employees in the safety and health aspects of their jobs.  Other OSHA standards make it the employer’s responsibility to limit certain job assignments to employees who are “certified,” “competent,” or “qualified.

Address employee complaints. Employers need to have a well-publicized, specific procedure for employees to express their complaints without fear of retaliation.

Insist on thorough and complete documentation of supervisory decisions involving all personnel matters.

We understand that even if you do everything correct, you still might be sued, but that is another reason to have a well-designed business insurance program.

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..

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!

 

Regulatory Issues That Impact The Entertainment Industry

 

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The regulatory climate is always changing for businesses including every firm in the entertainment business.  Almost every month there is some new law, regulation, or statue that your business now must comply with. We want to share a few of the latest regulatory trends to help with your business planning.

  1. The Department of Labor (DOL) is cracking down on employers who misclassify independent contractors who really should be employees. If you are an employer who hires contractors, the DOL has issued new guidelines to help you. If your entertainment firms hire part time production assistants, camera men or others, you need to understand have use review your workers compensation program.
  1. Defense of Marriage Act (DOMA). The federal definition of marriage has changed and employers must modify health insurance and benefits packages to comply with the law
  1. The new workers’ compensation coding system went into effect in 2016. All businesses covered under the Health Insurance Portability and Accountability Act (HIPAA) will be required to use the International Classification Coding Systems (ICD-10) to report injuries and illnesses to the Centers for Medicare & Medicaid Services (CMS).
  1. Whistleblower investigations are on the rise. The SEC’s whistleblower program continues to have an impact on businesses. The single biggest issue has been “Corporate Disclosure and Financials,” which accounted for 18.2% of all submissions.
  1. In response to immigration reform, employers will need to monitor changes to the immigration system that may impact their hiring; particularly Form I-9 procedures and work authorization documentation.

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..

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!

 

Your Entertainment Company Needs To Understand These Three Risks

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Entertainment Insurance

Every entertainment business has risks and most professionals have an understanding of their risks. But there are a few business risks that can be addressed by commercial entertainment insurance that you may not have considered.

Business Interruption– The U.S. Department of Labor estimates that more than 40% of businesses never reopen following a disaster such as a fire or flood. Is your business prepared to weather the storm if disaster strikes? If a fire causes your facility to be temporarily unusable, what would you do? To mitigate this risk, consider adding Business Interruption coverage to your Property Insurance policy.

Employment Practices– From the moment you begin the pre-hiring process until the final goodbyes at the exit interview, you are at risk for a lawsuit. In fact, three out of five employers will be sued by a prospective, current or former employee while they are in business. Although many lawsuits are groundless, defending against them is costly and time-consuming. Your business should take a hard look at whether it can afford to defend itself against accusations of wrongful employment practices. Employment Practices Liability that will protect your company against wrongful termination, discrimination (age, sex, race, disability, etc.) or sexual harassment lawsuit.

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.

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..

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!

Insurance For Drones Needs To Be Part Of Your Entertainment Insurance

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Recently the Federal Aviation Administration (FAA) released updated guidelines on the use of drones for commercial use.  Many entertainment businesses are using, drones as part of their productions.

Here is a link to the FAA rules

Here is What You Need to Know

  1. Drones must weigh less than 55 pounds, and operation must be less than 400 feet above ground.
  2. Drones must be in your line of sight at all times.
  3. Operation must also be within 3o minutes of sunrise or sunset.
  4. Operators need to obtain a pilot certificate with the US Airspace by passing an aeronautical test.

Will My Insurance Cover Drone Operations?

Most entertainment insurance policies exclude drones, so a separate aircraft policy will be necessary.  Aviation is a litigious environment. You may not consider what you are doing to be dangerous, but you can expect the plaintiff lawyers to knock on your door if you ever damage property, let alone injure someone.

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