It’s fair to say that video game industry is becoming a hugely successful spin-off of the film and entertainment industry, and what better place for this burgeoning industry to thrive then in North America.
The triggers for this field of entertainment are being propelled by the digital era that we are in, and with new media providing on-demand access to contact almost anywhere, anytime, the generation of unregulated information and data has triggered a requirement for insurance products that cater to the specific issues that can arise.
What type of special coverage is obtainable?
Given that the cost of developing video games can rise over $20M per game the coverage necessary is similar to that required by film and television producers.
Many video games now combine computer graphics with live filming and motion capturing technology. A recognizable lead actor will often be hired for a specific video game and if the actor is injured and is unable to shoot as scheduled, costs and expenses relating to the shoot will be incurred. A typical office based policy that your average video game or software developer would have does not cover these exposures.
Additional extensions that are specific to video programmers will include Media Liability and Professional Liability coverage. Media Liability is comparable to Errors and Omissions coverage in the written or spoken word resulting in claims due to miscommunication of information, or copyright or trademark infringement claims. Professional Liability, is important in the event that a video gamer does not complete or adhere to the guidelines in which they were hired.