Otherwise known as Producers Errors & Omissions Insurance, Multimedia Risk Insurance covers legal liability and defense for the production company against lawsuits alleging unauthorized use of titles, formats, ideas, characters, plots, plagiarism, unfair competition...
Film Producer's E&O also protects against alleged libel, slander, defamation of character or invasion of privacy. A distributor, broadcaster or financier will usually require this coverage prior to the release of any theatrical or television production; i.e., production financing will usually not flow until E&O coverage is in force.
- If you're a member of the Documentary Organization of Canada (DOC), please complete the quote form here
- If you're a member of the International Documentary Association (IDA), please complete the application form here
- If you're a member of WIFT-US, please complete the quote form here
- If you're a member of Film Independent, please complete the quote form here
Producers E&O Insurance
A producer will need to complete an application and obtain a clearance report. If coverage is required for the title, you must obtain a ‘title report & opinion' from a recognized title clearance company offering this service and submit the report to underwriters for final approval.
Premiums for E&O vary based on the type of production, content of the production & limits and length of coverage required. Every project is unique and requires a custom E&O policy.
Upon instructions from the production company, the broker will begin the clearance process. The lawyer for the underwriter will review and approve the clearances done by the producer’s lawyer. The fee for the insurance company lawyer’s service is included in the final premium. If coverage is not bound, the insurance company clearance fee (approximately $600) is payable and an invoice will be issued accordingly.
Check your production/distribution/financing agreements regarding the start date for errors and omissions coverage. Some financiers require E&O coverage to be in place from the first day of principal photography before they will release payment to the producer.
It can take some time for a project to be cleared and coverage to be in place, so start early to ensure that your cash flow is not impacted.
The E&O policy will provide defense costs if the producer is sued and will pay the judgment costs if the producer is found liable. Until a lawsuit happens, it provides peace of mind.