How does a specialized film insurance broker compare to general insurance brokers?
If you go to a general commercial broker, they’re not going to understand the nuances of film production insurance because they’re not doing it. Yes, they may understand manufacturing well and there are other things they may know, but it usually isn’t film insurance.
We do tend to receive a lot of calls and emails from other brokers who have clients who are doing something related to production; the better brokers will usually refer them over to Front Row because we have a better understanding of film insurance nuances.
I had a client in the TV commercial business once say to me, “Steve, what makes you really valuable to me is what I don’t have to tell you.” We know about this stuff—you’re talking about certain equipment; we understand what’s going on behind the scenes. Whether that is a film or TV production, a commercial, a short film or a live production, it’s hugely valuable to talk to a broker who has been on set, who understands the equipment; we have relationships with all the rental companies and we understand their requirements around insurance.
One of my colleagues, David Hamilton (President + CEO, Front Row), likes to say, “We want to make insurance the easiest line item on your budget. We just don’t want you to worry about insurance and we’re going to do it quickly and efficiently.”
Particularly on errors & omissions (E & O) insurance, we will sometimes see other brokers trying to find coverage for producers and they think about it like they do other professional liability products. So, when they get into it, they start to realize that the insurers that provide that coverage – they don’t necessarily want to deal with a general broker because there is a lot of handholding that would be taking place that they’re just not used to.
Therefore, what often happens is that the client ends up incurring more legal fees and the risk of incurring more legal fees with the insurer’s counsel also goes up. We, on the other hand, bring a lot of shorthand to the film production insurance conversation; we know what to ask and we know what the hot buttons are.
— Steve Beatty | Executive VP Business Development, Front Row Insurance
Courtesy of the Canadian Made podcast: https://www.instagram.com/canadianmadepodcast/
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About: Front Row Insurance Brokers Inc. is an independent insurance broker that specializes in the entertainment industry – specifically, the film industry. Front Row works hard to provide insurance protection for a very low cost. Should a claim occur, Front Row works diligently with clients and insurers to expedite the payment. Offices in: Vancouver, Toronto, Montreal, Halifax, NY, and LA.
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