The ProSight Specialty Insurance group of companies has introduced a production policy endorsement designed to safeguard independent television commercial producers from potential losses not covered by a client’s wrap-up policy and transferred to the production company for its ProSight DICE customers. The new WrapGap coverage was introduced to independent television commercial producers attending the Association of Independent Commercial producers (AICP) Week’s Business Affairs Boot Camp insurance panel discussion in New York City. As the official insurance partner of AICP, ProSight hosted this symposium with other insurance industry thought leaders and introduced the production community to WrapGap. The coverage was first made available in New York.
ProSight and AICP also worked to develop ProSight’s Ad Counsel: Bridging the Gap of Insurance Wisdom for Today’s Commercial Producer, an insurance and risk management guidebook tailored to the specific needs of commercial producers. The alliance explored insurance and risk transfer challenges faced by independent commercial producers, including dealing with a client’s Wrap-Up policy and understanding coverage.
Commercial producers often do not have access to their client’s actual Wrap-Up insurance policy, creating uncertainty about limits, exclusions and overall adequate coverage and proper indemnification of the production company in the event of a loss. When added to the commercial producer’s annual DICE policy, ProSight’s WrapGap closes potential gaps in primary coverage provided by a client’s Wrap-Up policy. WrapGap provides an added layer of coverage for the commercial producer and eliminates any deductibles that a producer would normally be responsible for without WrapGap coverage.
ProSight works with a limited number of appointed agencies that specialize in film and television that have access to WrapGap