Test Your Entertainment Business Insurance IQ

An Entertainment Business Insurance Update

We don’t expect you to be experts in business insurance, but we thought it might be fun to test you on what you do know about your entertainment insurance. Business insurance is designed to cover unexpected losses. We can offer a wide range of business insurance options, so please call our office today.

Business Insurance Quiz (answers at the end)

1. Your deductible is the amount you are responsible for if a covered loss occurs.
2. Flood and earthquake coverage are always part of your business property coverage.
3. Cyber Insurance is protection against losses caused by hackers from businesses dealing strictly in e-commerce, but it does not exist.
4. Business Interruption covers your lost income no matter what kind of loss closes your business.
5. My employees are prohibited from suing me, as this would be a workers’ compensation claim.

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.

Answers

1.       True-

2.       False- You need to add this coverage under a separate policy

3.       False- Cyber insurance can be purchase by all business

4.       False- Business interruption only applies to covered losses under the policy

5.       False- Your employees have rights under federal and state laws to sue you if they feel they have been wronged.  You would need employment practices liability insurance in order to protect you and your business from employee lawsuits.

Workers’ Compensation Best Practices From John Hart Insurance

Business owners go to great lengths to provide a safe working environment for their employees. However, when dealing with humans, accidents can happen, and Workers’ Compensation Insurance can help.  Workers Compensation Insurance should be an important part of every risk management program.

What Is Workers’ Compensation?

Workers' compensation insurance is insurance that provides lost income, medical benefits, disability benefits, and rehabilitative services for workers injured on the job or while performing work-related duties.

Why Your Business Needs Workers’ Compensation Insurance

When an employee gets hurt on the job or has a work-related illness, only workers’ compensation will cover them.  Health insurance benefits will not provide coverage for on-the-job injuries.

What Is the Best Way to Keep Costs Down?

·      Provide training for hazardous work, especially for new or inexperienced workers.

·      Enforce safety rules and practices.

·      Enforce drug and alcohol rules.

·      Require safety equipment to be worn at all times.

·      Keep work areas clean.

·      Workers should not wear loose clothing or jewelry around machinery.

·      Where required, workers must wear protective equipment such as goggles, safety glasses, masks, gloves, hairnets, etc. appropriate to the task.

·      Safety equipment such as restraints, pullbacks, and two-hand devices are designed for worker’s protection.  Be sure such equipment is adjusted for each worker.

·      Do not ever remove machine safety guards.

·      Develop a system for reporting unsafe practices.

·      Have monthly safety meetings that review safety issues and related topics.

·      Create accident investigation procedures that focus on prevention and change.

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.

Are You Hiring An Intern This Summer?

An Entertainment Insurance Update

Many entertainment businesses offer college students the opportunity to hold a summer intern position. These can be rewarding for the college student as well as provide some help to the business. Most States now require these positions to be paid. Before you bring that person on board, make sure your business is well prepared.

•          Have a clear job description, hours, and line of authority.
•          Check to see if there are any state regulations that might be impacted.
•          If you offer a paid internship, you will need to treat the intern like any other employee.
•          If the internship is a paid position, don’t forget about workers’ compensation.
•          Make sure you comply with Healthcare Reform relating to employee benefits.
•          Make sure the intern understands they are not entitled to “regular” company benefits, i.e. retirement, insurance, vacation, etc.
•          The internship must provide similar training that would be given in an educational environment.
•          There must be a “true” benefit for the intern.

·         Unpaid internships for for-profit companies are subject to the U.S. Department of Labor’s Fair Labor Standards Act. There are provisions if you offer educational credit. Here is a link to the U.S. Department of Labor.

We recommend you check with the department of labor to make sure your program meets all of the requirements. There have been many businesses who have been sued as a result of improper internship programs.

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.

Leased or Rented Equipment For The Entertainment Industry

Like many in the entertainment industry you may rent or lease equipment from time to time. You may be planning a special event and need a tent to accommodate 250 people as part of a fund raising activity. Or, perhaps you are renting a sound system for a concert, or leasing office equipment such as your copier.  These kinds of activities create added risk to organization.

It is important to have an understanding of who is responsible for the rented equipment and that your understanding is consistent with the written rental agreement. Not all rental agreements are the same. Some rental agreements will include property damage insurance as part of the rental fee. Other rental agreements may require the you to be responsible for all damage. And finally, some rental agreements may require you to pay a deductible if there is damage. This can be very confusing especially if you are leasing or renting a high value item.

There are many important things to remember when considering a rental agreement:

•           Leasing companies come in many varieties, including banks, brokers, equipment specialists, independents, and companies of all sizes. Each has different levels of flexibility and requirements.
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•           Understand what the agreement says regarding repairs, maintenance, and upgrades. This applies more to long term leases rather than short term leases.
•           It may be in your best interest to insure the equipment separately. It may be more cost effective depending on how the agreement is written.

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 

We Can Show You Simple Ways to Save on Your Entertainment Insurance

An Entertainment Insurance Update

Your business provides important and needed services to your customers and is a cornerstone in the community.  You also have the responsibility of employing many good people.  It is important to have the best possible combination of business insurance coverage, pricing, and service.

We can help you design an entertainment insurance program that is right for your individual business. 

We understand that having the right business insurance program can be the difference between recovering from a loss or going out of business.

Business Insurance Considerations

·         Do not overlook needed coverage like employment practice liability, business income, and cyber liability.  A business owner’s policy or “BOP” might be a good option for you.

·         Work with an independent agent. We can help by recommending coverage options and searching the market for the best options for your business.

·         Consider combining your business coverage with your commercial auto to provide additional discounts.

·         Have your agent educate you on what kind of business insurance you may need.

·         Make sure you read your insurance policies.

·         Request that your agent perform an annual program review.  This is a good way to determine if you need other coverage because of business changes.

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.

Common Mistakes Made When Purchasing Entertainment Insurance

Business Insurance 101

We work with hundreds of businesses and help them manage their commercial insurance programs. Our team recommends coverage and risk options as part of our regular services. Over the years, we have seen some businesses make preventable mistakes when considering their insurance coverage.  We thought it would be good to share these with you.

Entertainment Insurance Mistakes

Mistake: Assuming you do not need an agent.

Your agent can provide valuable services including educating you on what coverage you need and may not need.  Your agent can search the market for the best possible combination of coverage, price and service.

Mistake: Thinking that your policy covers all losses.

Your business insurance policy is intended to cover unexpected losses and accidents subject to the policy terms.  There are limitations and exclusions in every policy.

Mistake: Assuming that the lowest price is the best option.

It may be that the lowest priced insurance excludes needed coverage.  Your agent can help you determine the best coverage option for you.

Mistake: Not including cyber liability, employment liability, and professional liability in your business insurance program.

In today’s litigious climate, all businesses need to be protected with this coverage.

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

We Specialize In Entertainment Insurance

The entertainment industry creates fun, educational and even inspirational movies, TV, film and more. With this activity comes a certain amount of risk. Risks can include lost or damaged equipment, injury on sets, copy write litigation, injury to cast and crew and more. Our job is to partner with our clients to help them reduce their risk and protect their assets.

Here are some of our key products and services:

Insurance For Props, Sets and Wardrobe: Covers damage to specific equipment during production or events.

Producers Errors & 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.

Workers Compensation: Covers injury to crew members as required by state law.

Insuring Equipment: Covers cameras, sound/lighting equipment and rented or leased equipment.

Cast Insurance: Covers production companies’ extra expenses in the event of death, injury or illness to performers.

Comprehensive Liability Coverage: Protects the production company against claims for bodily injury or property damage liability arising out of filming. Coverage includes use of all non-owned vehicles (both on and off camera) including physical damage to such vehicles. This coverage will be required prior to filming on any city or state roadways, or any location sites requiring filming permits.

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.