Take1 Insurance Rolls Out Indie Film Program with Major Studio Benefits
Take1 Insurance has reintroduced an insurance program for independent feature film producers that provides the same insurance protection provided to most major film studios.
Take1’s reintroduced Specialty Film Production Program has designed coverage for production companies. This coverage applies anywhere in the world. The program offers Cast Coverage; Props, Sets & Wardrobe coverage; Negative film and Faulty stock coverage; Third Party Property Damage and coverage for most animals used in filming. The program contemplates stunts, multi-location shoots, and multiple days of principal photography.
“The film production industry is cyclical,” says Take1 Insurance Program Director Scott Carroll. “For long periods of time the studios are the only ones doing film production on any significant scale. Often, when their schedules become full, the only way an independent filmmaker can get their project off the ground is to produce it him or herself.
Through a major entertainment insurance carrier, Take1 Insurance offers full feature film production insurance for budgets starting at $1 million. This insurance is offered nationwide.
“The bottom line is this,” Carroll says, “any independent feature film or content creator who thinks that they cannot afford to protect their product, on their own, the way the studios do when they buy a project, is just dead wrong. It is time that this misplaced perception disappear and we’re doing our best to make this community understand that. Already this year, Take1 has quoted policies for several independent feature film projects since December, each with an average production budget of $16 million, and there are many more in the pipeline. That’s up from one project quoted all of last year.”