A Business Insurance Update
One of the best things a entertainment business owner can do to protect his or her business, is to have a business insurance program that covers your business in the best way possible. Your business insurance program should include; Faulty Stock, Camera and Processing, Employment Practice Liability, and Errors & Omission Liability insurance. These coverage’s can often be bundled together through a management liability policy.
Employment Practices Liability (EPLI)
EPLI insurance provides coverage for claims involving employment harassment and discrimination in the employee/employer relationship. Examples of these kinds of claims are wrongful dismissal/termination, sexual/racial/disability harassment, sexual/racial/disability/religious discrimination, employment related libel, slander, defamation and invasion of privacy, wrongful failure to employ or promote, and retaliation.
Faulty Stock, Camera and Processing
Covers loss, damage or destruction of raw film or tape stock, exposed film (developed or undeveloped), recorded videotapes, sound tracks and tapes, caused by or resulting from fogging or the use of faulty materials (including cameras and videotape recorders); faulty sound equipment; faulty developing; faulty editing or faulty processing; and accidental erasure of videotape recordings.
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 or piracy. Also protects for alleged libel, slander, defamation of character or invasion of privacy. This coverage will usually be required by a distributor prior to release of any theatrical or television production.
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.