Film productions contend with numerous risks daily, but when considering insurance types, many teams focus on the threats that impact them regularly: problems with equipment, workers who get sick, casting challenges, and more. It is essential for teams not to neglect the potential legal issues that may arise, both during and after production. DICE insurance is one option to streamline this subsection of film coverage.
DICE insurance is a multifaceted product that offers multiple types of coverage under a single policy. Because these inclusions are all wrapped together, insurance issues become easier to manage, and teams have a single point of contact for all their protections. DICE insurance typically includes coverage for lawsuits and legal claims.
However, the extent of this protection depends on the policy and the specific details laid down collaboratively by the insurer and the production studio.
Comprehending DICE Insurance Inclusions
DICE insurance can be a varied product, which is good news for film teams. This means it is highly adaptable, allowing insurance agencies to adjust the protection to suit each production’s exclusive risks. DICE insurance can be flexible, from targeting specific coverage minimums on certain policies so the team can meet a venue’s requirements to adding further protection for particular situations, such as underwater stunts or drone usage.
However, two of the most important protections (at least when it comes to lawsuits and legal claims) are typically included automatically in a basic DICE policy: errors & omissions and general liability insurance. While the specific details of a team’s E&O and GL coverage depend on their individual DICE inclusions, these policies usually come with strong baseline financial protections.
Errors & Omissions Coverage
E&O insurance can cover the legal challenges that may arise when a studio accidentally makes a mistake, resulting in legal action being taken against the studio. This often happens after the film has already been released but can occur in mid-production.
For example, suppose that a documentary about a famous film star shows a section of randomized commentary from the public. The public was not provided with any script and agreed to appear in the documentary, voicing personal opinions during an interview on the street.
Two people jokingly stated that the film star was known for “getting handsy” with coworkers of the opposite sex. The studio published the final documentary with this information included. The film star could file a defamation lawsuit alleging that these comments, even jokingly, damaged their reputation, resulting in financial harm for which the studio is liable.
Similarly, plagiarism, copyright or trademark infringement, and other mistakes can occur. DICE insurance can help to pay for the costs of hiring a legal defense team, filing fees, and even settlement fees or judgments (depending on the outcome of the case).
General Liability Coverage
General liability insurance is the other primary form of financial protection against lawsuits and legal claims. This type of coverage can shield studios from the monetary consequences of a third party being harmed due to filming or if the production damages someone’s property.
Continuing the above example about the film star documentary, suppose that while interviewing the randomized individuals on the street, one of the passersby tripped over the cord to the interviewer’s microphone and landed on their wrist, breaking it.
That individual could file a lawsuit against the studio, which would likely be responsible for the cost of that person’s medical care and potentially physical rehabilitation to regain the full use of their wrist. DICE insurance can cover these costs.
Similarly, the documentary crew may have rented a set from a venue and backed their prop truck into the loading dock too far, cracking off a piece of the building’s brick façade. The venue has the legal right to file a suit to recover the cost of repairing the damage, and DICE insurance can help to address the financial consequences of this mistake.
Protect Your Film Project with DICE Insurance
DICE insurance is a common option for insurance film productions, and for good reason. Its blend of multiple useful insurance coverages, high adaptability, and singular point of management for insurance protection make it appealing for busy studios who need to feel confident in their policies. Just be sure to choose a team you can trust!
MFE Insurance has been serving the film industry for years, and our team understands the intricacies and challenges that are exclusive to film professionals. who work in this field. Contact MFE Insurance to create a customized DICE insurance plan that addresses your production’s most salient risks and offers coverage against the financial repercussions of lawsuits, legal claims, and more.