New Film Insurance Company in Canada - Competition Benefits Producers

Posted by David Hamilton on May 28, 2012 11:50:00 AM

The World's largest Film Insurance Company opens in Canada creating more Competition to BenEfit Producers. The Fireman’s Fund Insurance Company has opened an office  in Toronto.  As Canada’s largest Film Insurance Broker, we have been selected as an approved broker that can obtain quotes and production coverage from Fireman’s Fund.

Front Row is an independent broker that represents Film Producers – not the insurance companies. We can offer you quotes for your project from all four of the Film Insurance companies in Canada: Chubb, Fireman’s Fund, Premiere and Travelers.

If you are not receiving four quotes from the broker that you are using, please contact us and we would be happy to provide the missing quotes so that you ensure you are receiving the best premium and coverage available in the marketplace.

We can make the process simple for you.  If you are able to provide us with the following information, we will have an indication of costs and/or a quote for you within 24 hours or less:

1.            Dates of  Filming

2.            Copy of Budget Top Sheet

3.            Synopsis and Script

 

There is no cost or obligation – you have nothing to lose and you may benefit with a lower premium.

Our staff have a combined 205 years of experience insuring film productions in Canada.  In the event of a claim, we will ensure that you are paid the money you are owed as quickly as possible.  We have offices in Montreal, Toronto and Vancouver with a staff in excess of 16.

Articles about our firm are available on our website.

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A Canadian Insurance Broker Needed to Avoid Potential Tax Penalties

Posted by David Hamilton on Feb 7, 2012 2:55:00 PM

If you are a US Insurance Broker that has a client with a Canadian subsidiary, Canadian tax law requires that: 

  • The policy must be issued by a licensed Canadian insurer
  • The premium must be paid by the Canadian subsidiary directly to a licensed Canadian broker who then  must pay the Canadian insurer.
  • If an unlicensed insurer is used, Provincial tax penalties may be as high as 50% of the premium and an additional Federal tax of 10% of the premium will also be levied

A US Insurance Broker that does not hold a license in Canada will not be able to place business with a Canadian insurance company. Furthermore a US broker that does not hold a Canadian license is not allowed to provide insurance advice to a Canadian company – even if it is a subsidiary of a US parent company. To do so will incur a premium tax and penalties that are payable by the subsidiary. 

A broker licensed and domiciled in Canada will make sure that your client complies with all insurance regulations so that the policy will respond when required. A Canadian Entertainment Insurance Broker will also ensure that the premiums qualify for any applicable tax credits.

This article explains the law well and in detail l and that the CRA (the equivalent of your IRS) is being stricter about enforcing it- http://www.canadianunderwriter.ca/news/excise-tax-extends-its-reach/1000405882/.

At Front Row, we would be happy to assist you insure your subsidiaries inCanada. Ask us how.

Please contact David Hamilton:  604-684-3456 or e-mail david@frontrowinsurance.com

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