7 film production risks affecting the entertainment industry

Film and TV production has come a long way since the entertainment industry first blossomed. In an age of digital streaming, fighting for consumers' attention span has pushed those in the world of entertainment to rethink their strategies. Some production teams are turning to increasingly sophisticated technology to enhance their special effects, while others are attempting daring scenes that would have been virtually impossible in years past. But like any other area that has evolved with the times, the risks have also evolved — while many have stayed the same and will likely remain that way going forward.

Risky business

Allianz Global Corporate & Specialty recently highlighted which film production risks can lead to production setbacks and financial losses. Fortunately, many of these risks can be insured. In the U.S., film insurance is classified as a specialty division of inland marine policy, says Peter Williams, head of live entertainment at Allianz. With this in mind, here are seven film production risks those in the entertainment industry should keep in mind. Related: 7 riskiest movies ever made