Top Risks For The Entertainment Industry
Broadcaster Magazine recently ran an article outlining top risks in the entertainment industry. We thought it might be good to re-visit some of these. Rapid consolidation, expanding markets, emerging business models and growing consumer demand are taking center stage and creating real turmoil in the media and entertainment (M&E) industry, Ernst & Young says.
The article points out many kinds of risks faced by the entertainment industry, but we thought we would focus only on the top three, as we see them.
Asset protection risks including piracy and digital intellectual property rights.
Our Solution – 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. Also, protects for alleged libel, slander, defamation of character or invasion of privacy. This coverage will usually be required by a distributor prior to the release of any theatrical or television production.
Inability to control costs.
Our Solution – We have access to many of the top markets which creates competition and keeps your entertainment insurance costs down.
Increase climate toward litigation.
Our Solution – Comprehensive Entertainment Liability Insurance, which protects the production company against claims for Bodily Injury or Property Damage Liability arising out of filming the picture. Coverage includes the use of all non-owned vehicles (both on and off camera), including physical damage to such vehicles. this coverage will be required prior to filming on any city or state roadways, or any location sites requiring filming permits.
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 have 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.
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.
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