1. Film Crew on Location-breaks vase

2. Steel Structure Falls-Injures 3

3. Client Accused of Copyright Infringement

4. INSURANCE Entertainment Industry has unique needs that standard insurance companies may not understand or properly insure. Use a specialist that represents insurance companies familiar with your needs.

5. Insurance Liability:you’re responsible for what happens Negligence:failure to do what a “reasonable” person would do

6. Insurance Who decides when you’re negligent?

7. Insurance the “reasonable person” (judge or jury) not you definition of negligence can be very wide and vague

8. Liability Insurance This is essential insurance for all business covers damage to property or injuries suffered by someone else for which you are held responsible.

9. General Liability Examples: your dog bites the mailman delivering mail to your home business…. your clumsy client scorches himself on your complimentary hot coffee…

10. Liability Insurance Crucial for film/TV production, recording facilities, live shows, etc. Cities or venues require a minimum $1,000,000 policy Freelancers may be required to have it to work at some places Banks may require it to receive a loan

12. Property Insurance Covers damage to the building where your office is located, as well as furniture and inventory

14. Key Types of Insurance Equipment Insurance – for the use of your personal equipment, as well as equipment you rent. Rental companies usually require proof of insurance (Certificate of Insurance) and some may insist they become “Additional Insured” on your policy.

15. Equipment Insurance Rate is based on value of equipment –$1 per $100 value of equipment –Does not include equipment taken on location –Excludes wear and tear, intentional damage, or an inherent defect –Keep list of serial numbers & receipts off site

16. Key Types of Insurance Floater Policy – covers equipment or materials that leave your facility –$1.50 per $100 in USA –$2.00 per $100 worldwide Rental House Floater – covers equipment that you rent or loan to someone else who takes it outside your facility

18. Key Types of Insurance EDP – Electronic Data Policy – covers loss of hardware and/or software

19. Key Types of Insurance Extra Expense – helps cover additional expenses incurred due to an emergency or hazard. --cost to reconstruct footage, recordings, and images due to acts of nature --additional labor costs incurred to recover or reconstruct lost data due to computer virus

20. Key Types of Insurance Film Negative & Videotape - for re-shooting all footage lost or damaged, including paying for extra time for crew Faulty Stock, Camera & Processing - loss due to faulty materials or processing

21. Product Liability Insurance You need this if you make a product that could conceivably harm someone

24. Commercial Auto Insurance Covers vehicles used for commercial purposes Non-owned & Hired Covers rental vehicles and employees using their own cars for business

26. Aircraft & Watercraft must be insured separately

27. Worker’s Compensation check with your state for rules In Florida, if you have 4 or more employees, you must carry this insurance It covers 100% of medical for injuries on the job and 60% of salary for life if disabled from injury

28. Worker’s Compensation Minimum annual policy is $450 Rate is based on payroll –Film & Recording is $1.19 per $100 of payroll –Theatrical entertainer/musician is $4.30 per $100 of payroll –Theatrical Lighting/Sound crew is $5 per $100 of payroll

29. Umbrella Policy Provides additional coverage beyond the limits of your existing insurance must have basic insurance in place to obtain this kind of coverage

30. Errors & Omissions Policy “E & O” covers all court costs regarding intellectual property infringement, defamation or invasion of privacy Required by film & TV distributors

31. Errors & Omissions Insurance Important for service-based businesses Protects you if you make a mistake or neglect to do something that causes a client harm (doctor’s medical malpractice insurance)

32. Completion Bond Most often used in Films and Game Projects: It guarantees the investors that the project will be completed and delivered (even if it goes over budget) or the investors will be repaid Costs 3-5% of production budget

33. Completion Bond They have experts who analyze all the production documents (scripts, schedule, budget, contracts, etc) Their representative will constantly monitor production They typically “suggest” approved producers, accountants, production managers, etc.

34. Completion Bond If the project goes over budget, they may Loan additional funds to the producer to finish the project (recouped from revenues) Take over the project and finish it themselves Stop production and repay the investors

35. Insurance Cast Insurance – covers expense to complete production due to the death, injury or sickness of performer or director Requires physical examination prior to being covered

39. Insurance Guild/Union Flight Accident – required by union contract for cast and crew members Props, Sets and Wardrobe – covers loss or damage during production

40. Film Production Insurance General Liability Worker’s Compensation Errors & Omissions “E & O” Completion Bond Film Production Package

41. Cast Insurance Negative Film and Videotape Faulty Stock, Camera & Processing Props Sets & Wardrobe Equipment Third Party Property Damage Automobile Extra Expense Guild/Union Flight Accident

42. Game Design General Liability Worker’s Compensation Errors & Omissions Equipment, Property, Automobile EDP Extra Expense Product Liability Umbrella

43. Digital Media General Liability Worker’s Compensation Errors & Omissions Equipment, Property, Automobile EDP Extra Expense Umbrella

44. Computer Animation General Liability Worker’s Compensation Errors & Omissions Equipment, Property, Automobile EDP Extra Expense Negative Film & Videotape Faulty Stock, Camera & Processing Cast Insurance Guild/Union Accident Umbrella

45. Show Production General Liability Worker’s Compensation Third Party Liability Equipment, Equip. Floater Rental House Floater Automobile Umbrella

46. Recording General Liability Worker’s Compensation Equipment Equipment Floater Rental House Floater Property Automobile Umbrella

47. Entertainment Insurance Speare & Co. –www.speare.comwww.speare.com Albert G. Ruben –www.albertgruben.aon.comwww.albertgruben.aon.com