There are famously four stages of learning, the first stage being “not knowing what you don’t know” – and insurance can feel a bit like that.
Sometimes with insurance, particularly specialised policies for shoots, it can be a case of not knowing what you need until it’s too late. In the highly competitive world of film & TV production there is a lot at stake – protect yourself, your equipment, your people and your reputation with Eggar Forrester Creative Production Insurance.
If you are a COO or MD of a production company, executive or a freelance producer, the chances are you will need to make decisions regarding insurance. Because each project is different, policies need to be tailored to ensure all aspects of production are covered. There are many specialised add-on’s you can include if needed; for instance, if you are working on a period drama you may consider additional cover for costume & props, or if you’re working with pyrotechnics, the chance of risk and damage may be greater. Your dedicated broker will ask you all the right questions and advise on the best cover for your shoot – but here are the 5 basic production insurance types you would ever need.
The most well known and most common liability. Essentially if you’re planning a shoot with or near any other humans, you need public liability. Accidents happen, particularly on fast-paced, ever-changing sets and locations. Where people and their property are at risk, a split-second lapse in concentration could end up costing you dearly, and so it’s always sensible to have public liability in place. You will need proof of Public Liability in order to receive permission to film in most locations and studios. This insurance covers legal responsibilities of your production should your shoot cause injury to a third party or damage to property.
Professional Indemnity insurance, also known as errors and omissions insurance (E&O), is designed to protect you if your client alleges that you provided an inadequate service. Should your client be unhappy with the finished product, whether you have made a mistake or not, professional indemnity insurance will provide you with protection. The cost of your legal defence will be covered, along with compensation you may need to pay to the client following a claim made against you. This is a vital item of your insurance as a difference of opinion, last minute changes to the brief by your client, or a seemingly minor error, might end up seeing you have to defend a claim.
Specifically for the film and television industry, Producers Indemnity insurance covers additional costs incurred by interruption, cancellation, abandonment or re-scheduling of a production. If you lose a day to heavy rain or illness to an actor, there could be a significant financial loss and so this is a cover well worth considering.
“Anyone in the industry knows shoot days can be unpredictable. Having Indemnity cover from Eggar Forrester Creative allows me to focus on the things I can control on set, whilst knowing the safety net is there – just in case” – Chris Purchase, Producer/Director
From cameras to sound equipment, we will work with you to create a cover that ensures all equipment that is vital to your business is looked after. That’s in all locations, whether at home, in the studio, or out on location. You will also need to ensure any rented equipment is covered, as most companies will need proof of cover before hiring out kit.
Employers Liability insurance is a legal requirement if you employ even a single person. The worst-case scenario is not something we like to think about but injuries in the course of work occur all the time and protection is a must – particularly on shoots where the variables can be greater depending on location and nature of the project. This will cover your crew, your cast and any freelancers you hire.
There are basically two types – project-based or annual.
Short term production insurance covers your productions on a project-by-project scale. Purchased on a production-by-production scale these policies can cover as little as one day of production (although you should cover your prep days). It is advised that you ensure your policies also cover you after the film has been delivered.
If you are planning to shoot multiple times throughout the year or head up a production company with various shoots at any given time – you’ll want an annual policy. These policies can comprehensively cover all your projects and staff, and your broker will assist in putting them together and actioning renewals.
It is highly important that you speak to a broker to ensure you have presented all the details of your production or production types. Our brokers can advise on the right policy and recommend any adjustments needed to suit your shoot and budget.