Every entertainment business has risks and most professionals have an understanding of their risks. But there are a few business risks that can be addressed by commercial entertainment insurance that you may not have considered.
Business Interruption- The U.S. Department of Labor estimates that more than 40% of businesses never reopen following a disaster such as a fire or earthquake. Is your business prepared to weather the storm if disaster strikes? If a fire causes your facility to be temporarily unusable, what would you do? To mitigate this risk, consider adding Business Interruption coverage to your Property Insurance policy.
Employment Practices- From the moment you begin the pre-hiring process until the final goodbyes at the exit interview, you are at risk for a lawsuit. In fact, three out of five employers will be sued by a prospective, current or former employee while they are in business. Although many lawsuits are groundless, defending against them is costly and time-consuming. Your business should take a hard look at whether it can afford to defend itself against accusations of wrongful employment practices. Employment Practices Liability that will protect your company against wrongful termination, discrimination (age, sex, race, disability, etc.) or sexual harassment lawsuit.
Errors and Omissions - Covers legal liability and defense for the production company against lawsuits alleging unauthorized use of title, format, ideas, characters, plots, plagiarism, unfair competition.
The staff at John Hart Insurance has over 60 years combined experience in the field of entertainment insurance. We focus exclusively on understanding the unique needs of motion picture, television, video, music and theatrical companies. This knowledge base allows us to structure an insurance program specifically for each client that will be a balance of the best coverage and most economical solutions to help them manage the risks inherent to their unique businesses.