You Just Started A New Production Company…Now What?

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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.