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  1. #1
    New Member
    Join Date
    Dec 2008
    Location
    Denver Colorado
    Posts
    1

    Business Insurance

    Hi,

    I would like to ask for some advice. I have a question about business insurance. My husband and I have formed an LLC (Colorado) for video production and multimedia. We have been offered a contract to create training videos for a corporation near Philadelphia. They are to provide the scripts, storyboards, and voiceovers. We will create the videos in our studio (in the basement of our home). No one else will be working there.

    They started out offering us contracts as contractors, which I believe would have gone through their HR office, but we asked them if we could be paid through our LLC instead. They had a legal/accounting person send us a contract for "Consulting Services, Training and Development Support Services," with one of the items being a requirement that we have Comprehensive General Liability ($1,000,000 each occurrance) and Professional Liability -- Errors and Omissions ($1,000,000), naming their company as an additional insured under both policies.

    My husband (a student) talked with one of his professors who has worked in the industry for years, and he asked several others in the field, and they've said that is not a common requirement for a video contract. The professor recommended we ask that it be waived.

    Do you have any experience with this situation? From the posts I've read, it seems like a good idea to get the General Liability insurance, but maybe not the E&O, especially if they provide the scripts, storyboards, and audio? What about the request to list the company as an insured on our policies?

    If we do need to get those policies, any recommendations for an insurance company?

    My State Farm agent has said they would cover the General Liability but not the Errors and Omissions.

    Any advice would be welcome!

    Thanks,
    Lisa

  2. #2
    Hi Lisa

    As a wedding videographer I have a policy with $5million for Public Liability BUT I shoot in Resorts, Hotels and Reception Centres where it's highly likely that a guest COULD trip over my gear!!

    If you are producing the video at home and the company concerned will never enter your home then I really don't see why you need Liability Insurance!!

    I would talk to a Broker first!! It might be something to do with the fact that the company are supplying the scripts and they might be held liable if YOU hurt yourself acting on their instructions. However I very much doubt that!! PL insurance is pretty cheap anyway so maybe just get it??? I pay $300 a year for $5million cover Just add on the cost to your contract!!

    Chris

  3. #3
    You may need liability insurance for rights usage (I forget what they call it, it has some special name) in case you manage to miss acquiring rights to a piece you use.
    Eric Adler (tonsofpcs)
    http://www.videoproductionsupport.com/ Chat at: http://tinyurl.com/vpschat
    Follow me on twitter: @videosupport @eric_adler

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