Film-Tech Forum ARCHIVE: Theatre Insurance

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Topic: Theatre Insurance

Josh Mitoska
Film Handler

Posts: 59
From: Brooklyn, MI, USA
Registered: Dec 2001

posted 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.

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Ken Layton
Phenomenal Film Handler

Posts: 1452
From: Olympia, Wash. USA
Registered: Sep 1999

posted 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

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Ian Price
Phenomenal Film Handler

Posts: 1714
From: Denver, CO
Registered: Jun 99

posted 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.

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Joel Pantoja
Film Handler

Posts: 12
From: Sacramento, CA, USA
Registered: Nov 2001

posted 01-11-2002 08:52 PM

Wow $20,000!?! For one five screen? Is that typical?

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Richard Fowler
Film God

Posts: 2392
From: Ft. Lauderdale, FL, USA
Registered: Jun 2001

posted 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

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Frank Angel
Film God

Posts: 5305
From: Brooklyn NY USA
Registered: Dec 1999

posted 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

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Leo Enticknap
Film God

Posts: 7474
From: Loma Linda, CA
Registered: Jul 2000

posted 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.

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Bernard Tonks
Jedi Master Film Handler

Posts: 619
From: Cranleigh, Surrey, England
Registered: Apr 2001

posted 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.

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Bob Maar
(Maar stands for Maartini)

Posts: 28608
From: New York City & Newport, RI
Registered: Feb 2001

posted 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.

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Frank Angel
Film God

Posts: 5305
From: Brooklyn NY USA
Registered: Dec 1999

posted 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.

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