Cast insurance covers any additional costs that may occur if a production loses a cast member, director, or other employee, and it is one of the most common types of movie insurance claims. Cast insurance is a type of “key man” life insurance that also includes business interruption coverage. When actors die onset, it can cause major losses for the production company.
Errors and omissions insurance protects the production businesses against lawsuits for infringement of personal rights, libel, or slander. These restrictions typically require filmmakers to confer with attorneys prior to the release of a film in order to rule out anything that could lead to a lawsuit.
General Film Production Insurance – Video Production Insurance packages include worker’s compensation, general liability, and commercial motor insurance, as well as other essential coverages. Costs for delays and reshooting due to bad weather, equipment failure, and set damage are also included.
Completion bonding ensures that a film is completed. Some of the Academy Award-nominated indie films, such as “Good Will Hunting,” “The enforcer,” and “Saving Private Ryan,” could not have made it to Oscar night if not for completion bonds. Independent producers who do not have the financial backing of a large studio require assurance that they will be able to complete a film.
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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