subject: Insurance Provides Protection For Movie Producers [print this page] Insurance Provides Protection For Movie Producers
The explosion of digital filmmaking technology has created a lucrative creative environment for entertainment entrepreneurs with sharp minds to generate large profits. Social media networks are being utilized to generate movie sales on all formats to global consumers eager to buy quality content. The entertainment industry has always been a cash cow for those that understand the business aspect of it. Errors & Omissions (E & O) insurance protects investors, movie producers, and companies completely from a range of potential lawsuits that can include copyright infringement, chain of title disputes to who owns the movie, using unlicensed music on a soundtrack and other issues that can arise when money is at stake.
Having an E & O insurance policy will protect your movie, company and investment from being hurt by financial claims made against your successful business enterprise. It is an area of conducting business that should never be overlooked. Movies made on small budgets have gone onto make millions and millions of dollars. The Paranormal Activity franchise has made millions, but without proper coverage, chances are it would have not. There are others that also stood make a lot of money, but did not have a policy to protect them from being tied up and court fighting lawsuits, while losing money. This can be avoided by taking care of the insurance side of your company, business, and product first. Movies are products that are bought and sold that need to be protected.
In most cases coverage only requires that a policy provide $1,000,000 for any single claim and $3,000,000 aggregate for all claims involved in any lawsuit. Liability insurance like this only carries a deductible in most cases that will not exceed an amount of $10,000. Each companies needs are different, that is why it is important to contact an E & O insurance agent to get the most accurate information available. They can tailor an affordable insurance policy that is specific to your business interests in the entertainment industry. Every other type of small business and large Fortune 500 Company protects valuable assets with E & O insurance coverage. It is a smart and safe solution to ensure that any type of lawsuit that can hurt profits protects you financially.
Getting started with an E & O insurance is a simple process that can be done online by contacting companies and agents that specialize in Errors and Omissions coverage. You can call a direct contact number provided or fill out an online quote form with basic information that outlines your business needs. You receive a free insurance quote that you can discuss in more detail with an E & O agent specialist. The business peace of mind that you get in knowing that your interests are professionally covered frees you up to focus on producing content to sell in the entertainment marketplace.
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