Filed Under:Markets, E&S/Specialty

When Insurance Meets Reality

When reality TV programs first appeared on our television screens, many thought it was just another fad that would not last. Indeed, many more hoped it would disappear to ensure quality broadcast programming.

Whatever your perspective, the naysayers have been proven wrong. Reality TV is here to stay. The public has an insatiable appetite to perform in front of the camera, however embarrassing, and we all have a similar appetite for watching them--whether we admit it or not.

The cast exposure is more subtle, revolving around their actions that could include anything, even being arrested or incarcerated, or possibly falling into such disgrace the show cannot continue. Specialty insurance companies are responding by offering innovative solutions for this unique type of risk.

Further differences between reality and traditional programming relate to budgets, which are usually lower than scripted shows, and production schedules, which are typically far less rigid. As a result, reality shows are less prone to adverse impact in the event of physical loss or damage to their facilities. A show like "Survivor" could be seriously affected if a hurricane hit the island they were filming on, but a show such as "Pimp My Ride" could relocate relatively easily. Overall the exposures are reduced.

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