NU Online News Service, April 13, 11:38 a.m. EDT
Fireman’s Fund Insurance Company has partnered with Allianz Global Corporate & Specialty to expand its entertainment-coverage division intoCanada, beginning withToronto.
A newly-named underwriting team, led by entertainment expert Lynne Pepper, will develop the Fireman’s Fund entertainment business in film, television, special events, music, contingency and D.I.C.E (Design, Innovate, Communicate, Entertain) coverage. The group was previously at Travelers Canada.
Fireman’s Fund has been growing its staff of entertainment specialists with the addition of Terry Rybicki as head of entertainment distribution and agency management and Ian Galloway as head of entertainment claims and risk services. The company now has almost 100 entertainment underwriters, customer service, claims and risk services employees in the US, Great Britain and Canada.
Allianz Global Corporate & Specialty will be responsible for all aspects of the Canadian-entertainment business through appointed agents and brokers, and Fireman’s Fund will cater to studio and independent films, television, music tours and other live events. “Our expanded global footprint enhances our ability to understand a diverse and increasingly global entertainment marketplace and provide unparalleled expertise, service and creativity to our customers,” says Lauren Bailey, vice president of entertainment at Fireman’s Fund Insurance Company. “Fireman’s Fund is committed to expanding its industry leading entertainment business by continuing to invest in its global capabilities and talent.”
Insurance for musical acts and venues contains liability covering spectators, performers and crew while onsite or traveling between cities. Musical instruments, studios, staging, audio and video equipment falls under property insurance, and auto and workers’ compensation for cast and crew still applies. When musical acts travel internationally, the ability to place local coverage must be considered. Film insurance can be even more complicated. Cast coverage pays for costs incurred by the production company in case of artist unavailability. Props, sets, wardrobe and anything “in front of the camera” must be insured, with extra expense coverage paying for losses incurred by sets, equipment and location.
Also offered are third-party property damage, miscellaneous equipment, faulty stock and coverage for the real gold: the film negative.