Coverage
for every movie production company
Business Interruption Coverage is part of commercial
insurance policies. This coverage is most commonly found in Commercial Property
Insurance Policies and Business Owner’s Policies (a package policy for small
businesses, often referred to as a “BOP”). If you own a production, film, TV,
media, or Entertainment Company, California Entertainment Business Interruption
insurance should be part of your program. Remember John Hart Specializes in
your industry. There are a number of important elements to Business
Interruption Insurance:
- . Coverage is triggered by a covered loss; for example fire, wind, etc.
- . There is a waiting period that acts like a deductible.
- . Coverage is limited to lost net income, temporary relocation, and ongoing expenses such as payroll that enables businesses to continue paying employees rather than laying them off.
- . There is a time period for recovery, usually 12-18 months.
Extra Expense Insurance reimburses your company for expenses,
over and above normal operating expenses, to avoid having to shut down during
the restoration period. Usually, extra expenses will be paid if they help to
decrease business interruption costs
Business Interruption Insurance can be as vital to the
survival of your production firm, studio or company as Fire Insurance. Make
sure your policy limits cover a sufficient amount of time to rebuild your
business. It can take more time than anticipated after a major disaster to get
your business functioning again.