Thursday, May 30, 2013

The show must go on...But when it doesn’t, John Hart has a solution

Most entertainment companies do everything possible to make sure that shows and productions are opened on time. But sometimes there are circumstances that just can’t be helped. Fire, natural disaster, and talent illness can cause events to be cancelled. Special Event Insurance can provide the necessary security to ensure that if something does go wrong, you and your guests are protected.

Event Cancellation Insurance/Special Event Insurance from John Hart Insurance protects production companies from unforeseen circumstances that require the show to be canceled. It would provide funds to cover deposits and other costs that may have already been paid. Unforeseen circumstances could be related to any number of things including weather, construction at the venue, or illness of the featured speaker or entertainer. Policies can be created to protect revenues or expenses for those with insurable interests should an event be cancelled.

Event Cancellation Insurance is an important insurance to consider. If a loss occurs, John Hart will work closely with you to file documents quickly and accurately so your event can go on as planned.

Thursday, May 23, 2013

Conducting Safety Inspections in the Entertainment Industry

Every production company and firms in the entertainment industry must have an effective safety inspection program. While there may be certain differences depending on your operations, there are many “standards” with which all entertainment companies must comply.

The format of safety inspections varies. Some safety coordinators do visual walk-through inspections of offices, studios, or even locations. Potential safety violations should be noted during the inspections.

Safety inspections should include the following:
Document all findings during the safety inspections using notes or checklists developed by your company.
Determine how any issues found will be corrected.
Set up a timetable for the completion of the assignments and follow up to make sure they've been done.
Communicate findings to management.
Keep good records for OSHA compliance

A checklist is one of the most effective means of documenting problem areas. There are many generic checklists available, some designed for specific industries.Here are some resources:

Monday, May 6, 2013

Umbrella Insurance for the Entertainment Industry

Some professionals in the entertainment industry may unsure what an umbrella policy is or what it covers. I will explain the basics of Umbrella or Excess Liability Insurance and the benefits to your company.

When you are outside and there is a light rain or breeze you generally don’t need or want an umbrella. However, if it is pouring down rain with high winds, you take your umbrella. An Umbrella Insurance policy works much the same way.

Umbrella Insurance provides extra protection or limits above the liability insurance you currently have. An Umbrella Insurance policy protects you from losing the entirety of your resources and assets in the event of a large claim. Umbrella Insurance provides limits above your primary commercial insurance program.

Here is an example: A production company leased a studio for the filming of commercials. During filming, part of the rigging fell on an employee of one of the advertisers causing major injuries. The employee’s medical expenses were $750,000 plus an additional $200,000 for two years of lost work. The production company had a primary commercial liability policy with limits of $500,000 but also had an Umbrella with a limit of $1,000,000. The Umbrella policy covered the excess $450,000 of the claim.

It is true that Umbrella Insurance may not be for every firm, but if you are building financial resources for your company’s future, Umbrella coverage needs to be part of the plan.