This is topic Theatre Insurance in forum Ground Level at Film-Tech Forum ARCHIVE.
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Posted by Josh Mitoska (Member # 1086) on 01-11-2002, 03:09 AM:
Are there any insurance companies out there that NATO recomends, or that are known for insuring theatres? My carrier cancelled my policy and Now I'm paying almost $7,000 a year more than I was 2 months ago, that's a lot for me because I'm a independent with just a couple screens.
Posted by Ken Layton (Member # 133) on 01-11-2002, 08:45 AM:
Reynolds & Reynolds (www.reynolds-reynolds.com)Maroevich, O'Shea & Coghlan (www.mocins.com)
Showmen's Insurance Agency
Div. of OnTrack Assoc.
(847)676-1444
Posted by Ian Price (Member # 14) on 01-11-2002, 12:04 PM:
We use Marsch out of NYC. Our Premium went up this year as well. They esplained it as our exposure is greater since we grew 40% this year. I think our bill is around $20,000 for a five screen.
Posted by Joel Pantoja (Member # 1045) on 01-11-2002, 08:52 PM:
Wow $20,000!?! For one five screen? Is that typical?
Posted by Richard Fowler (Member # 893) on 01-11-2002, 09:02 PM:
Insurance is a neccessary part of business.....January and February we renew Workmen's comp, Liability on premises and job-sites, Theft, Emergency medical.....+++ $20,000.00 is not bad since insurance is "risk management" and with thousands of people going through your premises....who knows what will happen. A client had to pay a $15,000 claim last year when a piece of drop ceiling hit a customer on the head while watching a movie.......
Richard Fowler
TVP-Theatre & Video Products Inc. www.tvpmiami.com
Posted by Frank Angel (Member # 248) on 01-13-2002, 10:39 PM:
Coinsidentally, we are four-walling a film festival in March and the producer asked what kind of insurance the museum has for film damage. The manager asked me and I had no idea what protection, if any, an insurance policy would have to cover print damage. Any of you guys know if the theatre insurance, beyond the every-day kind of coverage for theft, injury and such, do insurance policies that cover cinemas have any special provisions for major film damage? What would happen if a serious brain-wrap were to damage a large amount of footage -- would an insurance policy allow for recouping that cost if the distrib wanted to charge it back to the theatre?Frank
Posted by Leo Enticknap (Member # 534) on 01-16-2002, 02:34 AM:
I imagine that they'd set the premium so high that you'd have to destroy quite a few prints before the insurance became cheaper than taking on the risk yourself. And the claims would be a minefield to evaluate: print owner could claim you'd damaged it, you say you'd inspected the print on arrival and the damage was there to start with... the mieowing and hissing between the insurer and the two parties to the claim could go on for years.Of the three major companies I worked for when I was a projectionist, two insured against damage to 70mm prints only (and I'm not aware of any claims having been made), and I don't know if the third even did that.
Posted by Bernard Tonks (Member # 809) on 01-17-2002, 06:14 AM:
24 years ago I could only get insurance to cover film loss or damage whilst in transit or building fire not exceeding £3,000, today it is £5,500. This excludes when film is running in the projector.
Posted by Bob Maar (Member # 763) on 01-17-2002, 07:15 AM:
Frank, If you are four walling for a film festival, BAM should require the producer to supply you with a "Certificate of Insurance" naming BAM as additional insured.
Posted by Frank Angel (Member # 248) on 01-17-2002, 10:20 PM:
Good points. I couldn't see how insuring against damage while projecting could be practical, as Leo said, about all you could get would be finger pointing for years and big lawyer bills. Bob is right -- if the guy wants insurance protection of his prints, then he needs to buy his own insurance policy. What makes it even more complicated is that, yeah, he's the producer of the festival, but he doesn't actually own the prints -- the prints belong to the people who submitted them.
Besides, we do change-over -- one show, one run for each print. I understand his concern, but if he doesn't trust our expertise, maybe he can find a multiplex that will run his festival and let a Local 306 guy have at his prints. 