05 Jan Film Production Insurance: That’s Entertainment!
What’s your favorite movie? Whether you prefer westerns, musicals, historical dramas, comedies or thrillers, spare a thought for all the risks that were taken to bring this entertainment to you next time you take your seat in a movie theater. Without film production insurance, many films would not be made and the popcorn industry might be threatened.
Film production insurance provides coverage for the multitude of things that can go wrong, on and off set, during the production of a film. Temperamental stars, unpredictable weather and litigious competitors are just a few of the hazards that face a film producer.
Filming is not the only branch of the entertainment industry that needs the protection of insurance.
• Festival insurance coverage may protect festival organizers from loss if a festival is poorly attended or if assets like equipment and property are damaged during a festival.
• Concert insurance coverage offers protection for similar risks to festival insurance.
• Production insurance for stage productions covers the risk of losses when putting on a production – from a play on the stage of a small local church hall to a major Broadway show.
• Sporting events insurance covers accidents or damage that can occur at major sporting events.
Like many industries including farming, fishing and mining, making films is fraught with risks. Film production insurance and other entertainment-industry insurance products allow the risk to be transferred from a single production company to an insurance company that can spread the risk.