Arts and Entertainment Insurance

Arts and Entertainment Insurance Policies

 Do you work within the arts and entertainment industries ? 
Are you aware that most organizations, companies, and individuals that work within this particular industry are almost always required to have some form of arts and entertainment insurance ? 

If you have been considering jumping into the arts and entertainment industry you may want to educate yourself about the “ins” and “outs” of arts and entertainment insurance policies. With every business comes the cost of doing business. One of the biggest expense for some businesses is the insurance costs associated with running the day to day business operations. As every business is different, each and every business will have to acquire insurance for one or more aspects of their business. Some businesses or individuals of businesses will sometimes need to carry additional and sometimes multiple insurance policies.

Some examples of these additional insurance policies that some business owners or individuals of businesses may need to acquire are as follows -

 Lawsuit insurance : This type of business insurance is used for upper management and CEO's of big corporations. This particular insurance type covers upper management from lawsuits that may get filed upon them.

Model Insurance: Modeling insurance is another unique form of business insurance as this particular insurance type is usually purchased for parts of a body or the entire body of a person in general.  Arts and

Entertainment Insurance- The art and entertainment insurance type is somewhat of a broad category and topic. Arts and entertainment insurance could be used for insuring sets of a movie or play, the individuals and actors within a movie or show, insurance coverage for events and venues, for video companies, for photography companies, for media outlets, and for many other uses and applications within the arts and entertainment industries.

 What is Arts and Entertainment Insurance ? Arts and entertainment insurance is that is use for insuring many different facets of the arts, entertainment, and media industries. Some common applications for use of arts and entertainment insurance are as follows-
Film and Movie Production, Television & Commercial Production, Post-Production Facilities, Theater Companies, Venues, Events, Concerts, Plays and Theater, Recording Studios, Multi-Media Companies, Photography Studios, Venue Set up Companies, Cable Networks, Traveling Entertainers, Public Speakers, Celebrities, Sports Teams and Team Players, Directors and Producers, Media Distributors, Media Publishing Companies, Large Advertising and Marketing Firms, Talk Show Hosts, Radio Hosts, and many other variations of the arts and entertainment industries that would require arts and entertainment insurance.

Arts and Entertainment Insurance Companies 

Many top insurance companies do not like to work within the realm of arts and entertainment insurance policies. The reasoning for this is simply the risk factor being to great for the insurance company to even want to consider. As every business is about making money, insurance companies operate on strict guidelines and mathematical formulas that calculate the risk and rewards factor for each insurance type and insurance policy. Furthermore, major insurance companies typically need large numbers of customers to be able to start to turn a fast profit. That being said, the arts and entertainment insurance industry is not a high volume market, making it less appeasing to major insurance companies as the profit margins are to low for most insurance companies to get involved with. As arts and entertainment insurance policies are most certainly not the cheapest business cost for companies operating and conducting business within these industries, it is still required in order to run these types of businesses legitimately and safely.

Original Article written by- Jay Couture