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People: at the Epicenter of Risk.

Human Capital Risk

Entertainers

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Up to $75 million dollars in protection can be obtained for disability and accidental death. AEG Live had the foresight to obtain insurance in case Michael Jackson was unable to perform in the first 30 concerts of his comeback tour. AEG Live announced that they were “well insured” for the one million tickets that had been sold. The financial loss would have been staggering.

A major animation studio gave multi-film guarantee contracts to its voice-over artists. This protected the studio’s advance in the event of a death or disability to the talent. This was enhanced utilizing a master policy in regards to the limits, pricing and requirements.

Special insurance is available for non-performance or “no shows” on the part of the performer. There is even “reputation” insurance available which mitigates losses from PR disasters or poor public decisions. All too often we read about performers missing events or ending up on the wrong side of a mug shot. Fortunately protection can be available to protect the sponsors.

A famous recording artist was preparing for a worldwide concert tour to promote her top selling new album. She was able to secure Non-Appearance coverage and was thus protected from losing potential earnings if she had to cancel an appearance due to death, disability, or other unexpected events.

$18 million dollars of disability coverage was secured to protect a major book publisher in the event their bestselling author was not able to complete his contractual obligations. Another policy was written for an Academy Award nominated actor and his business management firm for personal income disability protection, providing $100,000 a month for 60 months, followed by a lump sum of $5 million, in the event of permanent disability.

Protection can be obtained for extreme conditions, remote locations, physical challenges, kidnapping and even emotional distress. Concerts can be insured against loss for cancellation and further protected against exposure of large crowds to catastrophic loss.

Entertainers and artists enjoy lifestyles that accompany their salaries and abilities to earn a substantial living. We can design a specialty insurance program that will protect against a loss for the performer, their agents, producers, studios and just as importantly, their families.

 

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