At a glance
- The fast-moving media industry requires insurance protection that can move with it, and cover a wide range of eventualities
Whether catering for the occasional client or dipping a toe in the media market with a view to future expansion, the nature of this sector means brokers and insurers have to be incredibly responsive to client needs.
In partnership with specialist provider Allan Chapman & James (ACJ), Zurich’s media insurance scheme allows for this type of agile cover.
For example, if filming overruns and cover has to be extended, then it needs to be in place for the following day. Crews sent off at the last minute need to be confident that the wording in place will cover all eventualities.
The ability to react quickly to such situations is paramount to success in the media market.
Terry Austin, managing director at ACJ
If a tiger really did come to tea, as in the children’s story, would you know where to get insurance? This very problem faced one film crew when they discovered they had to hire in a tiger for a particular scene they were filming.
These kinds of conundrums are regularly thrown up by the fast-moving and dynamic media sector and it takes a highly specialised insurance and service proposition to provide the policies and extensions required in the timescales demanded.
One crew, insuring through ACJ, found themselves trying to get back from France as the volcanic ash cloud billowed its way over continental Europe in 2010. Operating with delegated authority from Zurich, ACJ was able to make an instant decision and enable the crew to charter a private plane and return safely to the UK.
Terry Austin, managing director at ACJ, commented: “The ability to react quickly to such situations is paramount to success in the media market, whether working on the production side of the sector or the facilities side that hires out much of the equipment used on a day-to-day basis.”
He added: “The delegated authority we enjoy on this scheme means we can react immediately to client requests, with 90% of decisions being made internally.”
ACJ and Zurich have developed a mature trading relationship that stretches back more than a decade, enabling the cover on offer to be extended and refined over the years.
The start of 2013 saw professional indemnity, personal accident and business travel insurance become available, ensuring that one call – to one broker – can provide for many eventualities that media operators face.
The media sector is bustling and for those who want to expand their footprint in this area or service occasional clients properly, working with an established specialist is probably the most appropriate option.