Markets/Coverages: Take1 Features Film Producers Package; Pathpoint Now Serving Restaurants; Nexus Specialty Targets Management Liability

Markets/Coverages: Take1 Features Film Producers Package; Pathpoint Now Serving Restaurants; Nexus Specialty Targets Management Liability

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Take1 Introduces Coverage for Documentary, Industrial, Commercial, and Educational Film Producers

Thanks to the growing number of broadcast, cable and streaming platforms, the market demand for recorded filmed content has grown, creating new business opportunities for producers of documentary, industrial, commercial, and educational (DICE) films as well as producers of webisodes and YouTube videos.

With these opportunities comes new risks, according to Take1 Insurance Senior Vice President Scott Carroll, whose firm, Take1, has introduced its Recorded Content Producers Program.

Available in all 50 states either on a direct or agency bill basis, the program offers all lines of the most required commercial insurance coverages: general liability; property (real and/or business personal and/or business income/Interruption); producer’s portfolio (often called a production package), suite of inland marine covers; auto (commercial auto and/or hired and non-owned auto liability and physical damage; workers’ compensation; excess and umbrella.

The program is written with an entertainment specialty insurance carrier and all claims are handled directly by dedicated entertainment-only claims specialists at the carrier, according to Take1.

“This is a program designed specifically to meet the needs of every type of DICE content producer at work today, with a particular focus on producers of webisodes and YouTube type productions,” Carroll said. “It’s a flexible program that can grow with the insureds for scripted or unscripted productions that have gross production budgets up to $3-million.”

Take1 says most quotes can be turned around in one hour or less and retail insurance agents can earn 10-13.5% commissions on all lines except workers’ compensation where commissions are 5%.

According to Carroll, the program addresses needs that are unique to DICE producers. The Producers Portfolio Inland Marine contemplates exposure unique to content providers such as coverage for Negative and Faulty; props, sets and wardrobe; animal mortality; civil authority; and more, including a sub-limit for producer’s indemnity (sometimes referred to as errors in judgement), which Take2 says is not often offered in DICE programs.

The program also offers customizable separate limits for most coverage parts of the Producer’s Portfolio, including high limits available for items such as third party property damage to cover accidental damage to a third party’s property.

It also provides blanket additional insured; waiver of subrogation and per-location aggregate.

Pathpoint Launches General Liability, Property Products for Restaurants

Pathpoint, a digital excess and surplus lines insurance brokerage, has released a new restaurant offering with comprehensive non-admitted coverages for restaurant owners.

Pathpoint’s Restaurants product covers any restaurants operated by concessionares, including bring your own beverage (BYOB) establishments, restaurants that don’t serve alcoholic beverages, and those with alcohol sales less than 75% of total sales. The account appetite includes general liability from $500,000 to $2 million and property total insured value up to $2.5 million.

Like all Pathpoint offerings, the restaurant product is delivered through Pathpoint’s online platform, with Pathpoint serving as the surplus lines agent and handling all servicing and compliance on the back-end. Pathpoint’s restaurant offering is available in all U.S. states except D.C.

Pathpoint offers retail agents property/casualty products through its online platform. Pathpoint offers insurance products for contractors, vacants, lessor’s risk only, restaurants, and cyber, and is a coverholder at Lloyd’s of London.

Pathpoint said it grew 400% in 2021. In that time, the company also added two more carriers to its list of partners and launched four products.

Nexus Specialty, Interstate Announce Joint Program for Surplus Lines Management/Professional Liability

Independent specialty managing general agent Nexus Underwriting, along with Interstate Fire & Casualty, a subsidiary of Allianz, have announced a multi-product program for writing management and professional liability on a surplus lines basis in the United States, specifically tailored for small and medium-sized enterprises.

Under the terms of the agreement, Nexus Specialty Inc. will underwrite the program on behalf of Allianz.

The national wholesale program is available in all 50 states and covers a range of primary and excess products within management and professional liability, including directors’ and officers’ insurance, employment practices liability, employed lawyers, crime, fiduciary, and errors and omissions, for a range of industry sectors and professions – with cover available as standalone or modular structures.

Excess Surplus

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