We understand that as a film production company, you want to concentrate on creating and releasing your work. But, even with the most comprehensive guidelines, legal checks and controls, mistakes can happen or spurious claims can arise. That’s why it’s crucial to consider Errors and Omissions (E&O) insurance prior to your next release.
Below, we’ve answered some common questions relating to this type of cover, to help you better understand what it is, and why you need it.
Who is it for?
E&O insurance should be considered by anyone within production, or who releases content for film, TV and online broadcast purposes – whether it’s original or not.
When should I purchase it?
This cover is often a stipulation under contract from the purchaser, funder or distributor – and when it’s required is usually specified within this agreement. This could be anything from principal photography or pre-production, right up until the film is ready for release.
When it isn’t outlined in the contract, you have the freedom to choose. We’d recommend taking it out as early as possible, but we appreciate you might have budgetary constraints.
What limit should I get, and for how long?
The limit depends on your individual needs, and includes but isn’t restricted to:
Again, a limit may be specified under contract, but we can better advise and provide a recommendation when we review your risk. Regarding the duration of the policy, these can be taken for up to five years, so any valid claims made within that period would be covered.
What does it cover?
This policy would defend you, the producer, against any claims made against the production or broadcast. It would cover the investigations, legal costs and potential settlements of a claim.
Cover can vary with each insurer, but a comprehensive policy is likely to include:
What’s the quoting process like?
Depending on the production size and budget, the quoting process can be really straightforward, often only involving a few simple questions.
For larger productions, a proposal form may be required. Ultimately, options can be provided based on the limit, period and excess, and here at RiskBox, we’re always happy to discuss these with you.
Speak to RiskBox
You’ve probably seen stories in the news of high-profile movies facing lawsuits for varying reasons. It’s possible that these accusations could be aimed at your production, but E&O insurance can provide a layer of protection.
If you’re considering E&O insurance for your upcoming production, but want to know more about what it entails, speak to one of our trusted professionals. At RiskBox, our team of insurance specialists are here to help, and can work with you to decide what type of cover your production needs. Get in touch on 0161 533 0411 or fill in our contact form today.
Agencies - September 25, 2023
Blog - September 11, 2023