Entertainment insurance typically covers property and casualty risks to productions and live events. It can include physical risks for cast, crew, wardrobe, sets and equipment; and coverage for extra expenses associated with a production delay caused by those physical risks. Liability also represents a key entertainment cover: for instance at events where an organizer will need cover for injuries to performers and audience members.
AGCS is well-placed to use its international network to support clients operating in multiple locations, or filming outside the traditional Hollywood filming locations. For example, according to UNESCO1, the film industry is internationally dispersed, with only 12% of film production taking place in the US. Asia dominates the sector with India, China and Japan producing 35% of films made for theatrical release. The European film sector is also active with five European countries (UK, France, Germany, Spain and Italy) being responsible for 17% of global film production. And beyond Hollywood, the team already works with the movie industry in many other countries. “In live events, we are building out our expertise internationally as we have already successfully done in the movie and TV production area,” Bailey explains. “We are making sure we have the right underwriting talent and infrastructure, including claims and risk consulting, in markets beyond the US. In this way we can provide that expertise, differentiated cover and service customers’ needs while creating a more diversified and balanced portfolio on our end.”