Monday, April 18, 2011

Take1 Insurance Reintroduces Customized Coverage For Independent Filmmakers - At A Time When They Need It Most

At a time when major studio feature film production schedules are nearing capacity, Take1 Insurance, the entertainment industry insurance division of U.S. Risk, Inc., today reintroduced for independent feature film producers an insurance program that provides the same insurance protection provided to most major film studios.

Take1’s reintroduced Specialty Film Production Program has designed coverage for production companies. This coverage applies anywhere in the world. The program offers Cast Coverage; Props, Sets & Wardrobe coverage; Negative film and Faulty stock coverage; Third Party Property Damage and coverage for most animals used in filming. The program contemplates stunts, multi-location shoots and multiple days of principal photography.

“The film production industry is cyclical,” said Take1 Insurance Program Director Scott Carroll. “For long periods of time the studios are the only ones doing film production on any significant scale. Often, when their schedules become full, the only way an independent filmmaker can get their project off the ground is to produce it him or herself.

Carroll reminded the vast world of independent film producers that there are options for them to get their movies properly insured. Through a major entertainment insurance carrier, Take1 Insurance offers full feature film production insurance for budgets starting at $1 million. Through this program, the independent filmmaker can feel free to focus on their primary task at hand, which is to create memorable feature films that people want to buy and see.

“The bottom line is this,” Carroll emphasized. “Any independent feature film or content creator who thinks that they cannot afford to protect their product, on their own, the way the studios do when they buy a project, is just dead wrong. It is time that this misplaced perception disappear and we’re doing our best to make this community understand that. Already this year, Take1 has quoted policies for several independent feature film projects since December, each with an average production budget of $16 million, and there are many more in the pipeline. That’s up from one project quoted all of last year.”

One of the key strengths offered by Take1 Insurance, Carroll emphasized, is access to the same coverage for the independent filmmaker usually reserved only for the major studios. This affords a level of expertise in the unique world of production insurance, at an affordable price, for the independents. This insurance is offered nationwide, “So if you are a filmmaker in Walla Walla, Washington or Tallahassee, Florida, we are here for you.”

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