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Insurance for Production Companies

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Max KaiserInsurance for Production Companies
by on Jul 22, 2010 at 1:36:40 am

Hey Folks,

Just wondering if anyone had some good leads for production company insurance. Basically, I'm looking for a company that understands insuring a production company from top to bottom. We do the basic production, have a bunch of gear, and sometimes rent it.

We are getting dropped by our current provider after they had to do a pretty big payout when our RED was stolen last year...

Thanks!
Max



Max Kaiser
Director
Hand Crank Films
http://www.handcrankfilms.com

Various Intel
FCP 6
OS 10.4


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Mads Nybo JørgensenRe: Insurance for Production Companies
by on Jul 22, 2010 at 7:15:14 am

Hey Max,

It would really help if you told us where you are based? That tends to have an impact on the cost of insurance.

I've had a situation previously where an insurance company (in this case Axa) left the media industry all together because of too many claims, but a single client, when this is the time for them to ear their money back - sounds unlikely. So do ask them why you are getting dropped?

Zurich is our preferred insurance company, and do get quotes from at least 3 brokers - there is a big difference in the UK depending on who you use.


All the Best
Mads
London, UK

Here used to be a big video - now you can watch another one here:
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Mac Million Ltd. - HD Production & Editing
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Jeff CadgeRe: Insurance for Production Companies
by on Jul 22, 2010 at 11:44:05 pm

Max,

I had a similar problem with our old insurance company and found an organization call Fractured
Atlas which helps artists with insurance needs. I have found them to be very quick with insurance certificates which as you know are a need for almost all location shoots. They insure our equipment
as well, not sure how they handle rental insurance.

http://www.fracturedatlas.org/

Good Luck,

Jeff Cadge

http://www.cadgeproductions.com


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Max KaiserRe: Insurance for Production Companies
by on Jul 23, 2010 at 12:40:13 am

Thanks all. We are in Washington State.

Max Kaiser
Director
Hand Crank Films
http://www.handcrankfilms.com

Various Intel
FCP 6
OS 10.4


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Steve MartinRe: Insurance for Production Companies
by on Jul 23, 2010 at 10:59:56 pm

Max,

I just renewed my policy here in Florida (where rates are still quite high since the trio of hurricanes in 2005). What we found a year ago when we shopped the policies was that the agent plays a huge role in what you get. We switched from one independent agent to another and saved a bundle: from about $12k/year to $7k/year for our commercial building (we own it), liability, inland marine (for gear that leaves the office), employee theft and a few other endorsements.

The only thing we don't do is rent our gear out to others. One of our people is always with our gear so that there isn't any "equipment for hire"

I'd encourage any small business owner (production or otherwise) to speak with several different reputable independent insurance agents in your area. They should ask lots of questions about your business and what you do. That may determine which carriers they will "shop" your business to. A good agent will know who is likely to give your particular business the best deal. This is because underwriters at various carries have vastly different policies about what is or isn't a "preferred risk." So pick an agent that will do his/her homework and really work in your best interest.

Of course, insurance regs and policies vary by state and your mileage may vary.

Hope this helps...

Steve

Hope this helps...

Production is fun - but lets not forget: Nobody ever died on the video table!


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walter biscardiRe: Insurance for Production Companies
by on Jul 24, 2010 at 12:41:12 pm

All of our coverage is through The Hartford. They've been my provider since we opened back in 2001. One thing though, when I first got the coverage I went through their national 1-800 number and set it all up with an agent on a phone.

Four years ago I connected with a local independent agent who saved us around $400/year with more coverage and still keeping The Hartford as our insurance company. The agent came out to the shop to see exactly what we were doing and how we were set up and then re-tailored our policy to better match what we are and what we have here.



Walter Biscardi, Jr.
Editor, Colorist, Director, Writer, Consultant, Author, Chef.
HD Post and Production
Biscardi Creative Media

"Foul Water, Fiery Serpent" featuring Sigourney Weaver coming soon.

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Jeff CadgeRe: Insurance for Production Companies
by on Jul 24, 2010 at 1:08:22 pm

Being in business since 1986 I have been thru a lot of insurance companies, last one being Travelers
and I found their customer service terrible and their price OK.

We are now with Hartford thru Fractured Atlas, the policy price is much less and the customer service a lot better. I found going thru an organization can help bring the costs down.

Best,

Jeff Cadge


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Max KaiserRe: Insurance for Production Companies
by on Jul 26, 2010 at 3:53:25 am

Thanks fellas,

I'll tell my agent to look into the Hartford. We do want to be able to rent gear out too, in addition to all the other. I think that may have been what sent our old insurance co. running.

Max

Max Kaiser
Director
Hand Crank Films
http://www.handcrankfilms.com

Various Intel
FCP 7
OS 10.5
RED/XDCAM/7D


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Rich RubaschRe: Insurance for Production Companies
by on Jul 28, 2010 at 2:01:41 am

Interesting...I was with the Hartford and my local agency just switched everything over to the Travelers for better direct customer service. I was with the Hartford for about 2 years and they were pretty good so the change was not important to me, but they were changing everyone promising better service.

Travelers has been an upgrade. their customer service is more knowledgeable and prompt. Very courteous and they know exactly what I need and what I am talking about...Hartford was fine, but i do feel that the Travelers is an upgrade...so far.

Rich Rubasch
Tilt Media Inc.
Video Production and Post
Owner/President/Editor/Designer/Animator
http://www.tiltmedia.com


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walter biscardiRe: Insurance for Production Companies
by on Jul 28, 2010 at 3:04:57 pm

[Max Kaiser] "I'll tell my agent to look into the Hartford. We do want to be able to rent gear out too, in addition to all the other. I think that may have been what sent our old insurance co. running."

If you rent gear out, then the people renting the gear should have a rider on that equipment. When they have it, they are responsible for it.

That's how most rental companies around here work. Especially if you're talking expensive gear like RED and HD cameras. No insurance rider, no rental.

Walter Biscardi, Jr.
Editor, Colorist, Director, Writer, Consultant, Author, Chef.
HD Post and Production
Biscardi Creative Media

"Foul Water, Fiery Serpent" featuring Sigourney Weaver coming soon.

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