Wednesday, June 29, 2016

From the P&C Files: Halt (Production)!

This is interesting:

A few days after the Orlando nightclub terror attack, the TV show "The Last Ship" postponed its season premier because the plot involved a similar scenario. In this case, the episode was already "in the can" and could be shown at a later date.

But what if a production, drama or musical or whatever, was interrupted due to terrorist activity?

Thanks to FoIB Holly R, we have an answer:

"One of the music industry’s top insurers is extending its standard coverage to include a growing risk of performing live: terrorist attacks."

The carrier, New Jersey-based ProSight Specialty Insurance Group, will now begin "covering the cost of rescheduling shows if they are interrupted or canceled due to terrorism." And the best part? The cover will be included at no extra charge. There are the usual disclaimers and conditions, of course, but certainly better than the producers having to eat the entire cost of rescheduling venues and artists.

Be interesting to see if carriers in other, related fields follow suit.
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