Does anyone have errors and omissions insurance that is specialized for video production and post production? Often times our industry is difficult to understand for people like bankers and insurance agents. My agent can only find E & O insurance for producing and distributing a movie or TV project. The bulk of our work is TV commercials for local markets. Our agent feels this is what I need, but I hestiate. What does the forum think?
Dakota Video & Post Productions
Unless you have really huge budgets for these spots (and since you said they were local-market television commercials, I'm guessing the budgets aren't gigantic), I wouldn't think E&O would be needed... or the issue even ever come up.
I can't say that I've ever heard of E&O for a local television spot production... that's not to say that it doesn't exist or that there aren't some people out there that don't use it, but it would be news to me.
Fantastic Plastic Entertainment, Inc. fantasticplastic.com
I agree with Todd. And while it is NOT a replacement for E&O, you should at least have a clause in your production contract stating that the client agrees to binding arbitration should any dispute arise.