Film & Television Insurance is a specialized suite of insurance policies designed to protect productions during the making of feature films, television pilots, and series. These policies cover a range of risks associated with production, ensuring that both the production company and its employees are safeguarded against potential losses.
Why Do You Need Film & Television Insurance?
Comprehensive Protection
Producing films and television content involves numerous risks, including property damage, injuries, equipment loss, and legal liabilities. Film & Television Insurance provides comprehensive coverage to mitigate these risks, allowing productions to proceed smoothly.
Industry Requirements
Many locations, vendors, and unions require proof of insurance before allowing productions to proceed. Having the appropriate insurance in place ensures compliance with these requirements.
Key Coverages in Film & Television Insurance
Insuring a feature film or television production may require one or more of the following insurance policies:
- Production Package Insurance: Covers physical risks to the production, including property damage, equipment loss, and extra expenses due to delays.
- General Liability Insurance: Protects against third-party claims of bodily injury or property damage occurring on set.
- Workers’ Compensation Insurance: Provides benefits to employees who suffer work-related injuries or illnesses.
- Non-Owned and Hired Auto Insurance: Covers liabilities arising from the use of vehicles not owned by the company but used during production.
- Errors & Omissions Insurance: Protects against legal claims related to the content of the production, such as copyright infringement or defamation.
Additional policies may be required depending on your specific situation, such as a Guild Union Travel Accident policy.
Who Should Consider Film & Television Insurance?
- Production Companies: All production companies, whether large studios or independent producers, should secure Film & Television Insurance to protect their investments and comply with industry standards.
- Filmmakers and Producers: Individual filmmakers and producers working on feature films, television pilots, or series can benefit from tailored insurance packages that address their unique risks.
How Does Film & Television Insurance Work?
Assessing Your Needs
An expert insurance agent will work with you to determine the exact combination of insurance products necessary for your production. This involves evaluating the scope of the project, potential risks, and any specific requirements from locations, vendors, or unions.
Customizing Your Policy
Based on the assessment, a customized insurance package is created, combining the necessary coverages to provide comprehensive protection for your production.
Obtaining Certificates of Insurance
Once the policy is in place, you can obtain certificates of insurance to provide to locations, vendors, and other entities requiring proof of coverage.
Benefits of Film & Television Insurance
- Financial Protection: Safeguards your production against unexpected costs due to accidents, equipment loss, or legal claims.
- Compliance with Industry Standards: Ensures that your production meets the insurance requirements set by locations, unions, and other industry entities.
- Peace of Mind: Allows you to focus on the creative aspects of production without worrying about potential risks and liabilities.
Sources
- Insurance Information Institute – Insurance for Entertainment Businesses
- Producers Guild of America – Production Safety and Insurance
- Front Row Insurance Brokers – Film Production Insurance
- The Hartford – Entertainment Insurance
- Inszone Insurance Services – Entertainment Insurance