Chubb said it has enhanced insurance policy wording for companies producing television and other advertising commercials in the UK & Ireland, as the creative industry sector continues to grow and its risks evolve.
The new wording includes a number of significant updates, including cover for emerging camera technology; automatic cover for antiques and objects of art; animal mortality, and visitors’ personal property, Chubb said in a statement.
Other policy features and benefits include:
- Comprehensive cover through the production cycle, including pre-production, filming and completion of the post-production phase
- Business interruption risks, including cast, production media, extra expense and increased cost of working cover
- Property risks including theft, accidental damage and breakdown of equipment cover
- Third-party property risks (property of others)
- Public liability risks
- Flexible policy limits, tailored to each individual client’s needs
- Available to purchase on a standalone basis or together with Chubb’s advertising agency contingency policy.
“The total UK advertising market grew to approximately £20 billion in 2015 and TV advertising spend exceeded £5 billion [$6.7 billion] for first time*,” said Frankie Hernandez, UK and Ireland entertainment manager for Chubb.
“But with the future outlook less certain, commercial producers need an insurance provider that genuinely understands their business and the evolving risks they face,” Hernandez said. “Our new enhanced proposition underlines our commitment to working with brokers to provide producers with the comprehensive, market-leading cover they deserve in an increasingly high-tech and high-risk industry.”
* Thinkbox, “TV advertising spend in the UK tops £5 billion for first time,” Feb. 23, 2016
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