A Rising Risk for Health Care professionals

Medical Staffing Insurance now has a new Risk that is affecting it in a major way. Patient Lifting is part of Nurse and Nursing Assistants Daily Routine when moving patients from their beds. What may seem as normal task can Also prove to be a serious risk, 42% of nurses (According to the American Nurses Association) have said that their job duties involve lifting which represents a severe On premise safety Risk.

According to The National Institute for Occupational Safety and Health “ 75 lift related injuries occur per 10,000 full time hospital employees”. Even with Lifting Equipment such as lifts and power stretchers most injuries occur with routine patient transfers from bed to chair, and on and off examination tables.

The average age of Nurses has climbed from 39 years old to 51 years old which places nurses at a higher risk of injury and a longer Recovery time for them to be back on the job. Lifting exposure can cause many Temporary staffing carriers to exclude hospitals and retirement homes from their programs and throw them directly into the Risk pool, However there are carriers who are starting to write programs that service this Risk and save staffing firms on their Premiums in this challenging Market. If anything Its a call to action for Carriers to provide Coverage for these Rising Niche Risks.

Film Investor Insurance - Accounts Receivable

Is one of your largest assets unprotected?

For Film Production, Sales Agents, and Distributor Companies Accounts Receivable typically represents 80% of a company's assets and is the most vulnerable to unexpected loss. Accounts Receivable Insurance can protect you from losses and empower safe top line growth. 

As Filmmakers you always focus on Production Insurance to protect the cast & crew. Errors & Omissions Insurance to protect the distribution and release of your film. What about protecting the money that is owed to you on distribution contracts? Let our team at Akker help you with building a proper accounts receivable insurance policy. 

Accounts Receivable Insurance Advantage

• Grow sales safely, domestically and abroad, to new and existing customers

• Protect your business from risk of customer default and catastrophic loss

• Reduce bad-debt reserves

• Obtain greater access to funding and secure better finance options

• Offer safe, open terms to your customers overseas with no need for letters of credit

Contact us today at www.akkerins.com or stan@akkerins.com let our underwriting team build a proper coverage for you. 

Akker, LLC - Insurance experts for the film industry - Production Insurance, Errors & Omissions and now Film Accounts Receivable Insurance

Essential Elements and Cast Insurance

Essential Elements Coverage is an Insurance Policy that distributor or film completion bond companies will require you to have as part of their agreement. This is typically required by a distributor or financier because they do not want the project without a particular actor or director involved.

Essential Elements is extended and enhanced to the cast insurance coverage. If the actor or director was to become incapacitated halfway through the film and could not continue production, then you as a producer would have the option to abandon the production and receive all the money back which you have spent to date in the form of an insurance claim.

Cast Coverage claim reimburses the producers for extra expenses and costs necessary to complete production due to death, injury or sickness of the director or actor. Standard cast coverage requires the production to recast and start over with another actor in the event you make a cast claim.

Essential Elements carries more risk for the insurance company protecting the film so the additional premium can be up to $15,000 per actor/director. Each individual scheduled as essential element must pass a cast medical exam for uralysis, blood work with a drug screen, EKG, and an x-ray. The physician completing the cast medical exam should not be the examinee’s personal physician.

If you have additional questions about Essential Elements or Cast Coverage for your next production contact us at www.akkerins.com

Third Party Property Damage

Why should I have Third Party Property Damage when General Liability has property coverage already?

This is a common question a lot of filmmakers start asking when purchasing Production Insurance Policy. A lot of filmmakers assumes that General Liability will cover the locations they are renting under their Production Insurance Policy. Here is a reason why for your next Production Insurance policy you should have Third Party Property Damage added. 

Third Party Property Damage covers damage done to locations over which you have the care, custody, or control. For example, you rented a Studio or a Sound Stage for your next production. The moment you have custody and control, the production company assumes the responsibility for any damages. This is where having a proper limit for Third Party Property Damage is important. 

Most locations will ask for General Liability only because they believe it covers their property for Damages. The truth is General Liability in a Film Insurance policy only covers damage to third party sites. The building next door, location upstairs or downstairs would be considered a third party site under General Liability Policy. General Liability Policy does NOT cover the actual location where you are filming. 

Third Party Property Damage is the most ideal coverage to insure your filming location. It will provide coverage for the damage or destruction of property of others while the property is in the care, custody or control of the production company and is used for production.

Contact us at Akker, LLC www.akkerins.com let us help you build a proper insurance policy for your next production. Third Party Property Damage can be purchased for a Short Term or Annual Film Insurance Policy. 

Unattended Vehicle Exclusion

Why do rental houses ask to remove unattended vehicle exclusion endorsement from my insurance policy?

It is important to remove this exclusion from your policy because the carrier will not pay for loss or damage caused by or resulting from theft from any unattended vehicle unless at the time of the theft its windows, doors and compartments were closed and locked and there are visible signs that the theft was the result of forced entry.

An increasing number of rental houses are requesting that client insurance coverages have the unattended vehicle exclusion removed from their coverage before they will lease equipment while others have it hidden in the fine print of their rental agreements. If you were unaware of this detail or failed to adhere to it by making sure your insurance provider has tailored your production insurance policy to have this exclusion removed, you could be left holding the bag for the entire cost of any stolen equipment. Having proper coverages is key to protect your next production.

Before starting production on your next project, be sure to consult with a film production insurance specialist at Akker, LLC by visiting us at www.akkerins.com. Our film specialist will have a full understanding of the specific types of coverage you need to protect your project and will also have access to a variety of carriers and can tailor a production package to your specific needs. For more information email us at stan@akkerins.com

Film Errors & Omissions Insurance

Planning to sell or self-distribute your next film?

Don't wait for the film's paperwork delivery to discover the all-important value of Errors & Omissions coverage. It will protect your project from consequences that result from unintended pitfalls, including the following error prone areas:

• Advertising for publicity and promotion of Scheduled Productions.

• Invasion of privacy or publicity concerns.

• Infringement of copyright, trademark, title, slogan.

• Misappropriation of ideas under implied contract.

• Breach of license - to use a third party's intellectual property.

• Breach of agreement - to maintain the confidentiality of sources.

• Failure to attribute authorship or provide credit.

• Unauthorized use of someone's "likeness."

• Fakery - using knock-off item to portray a well known original product.

• ETC. etc

Contact us today at Akker, LLC our film insurance experts can help put together a proper and affordable Errors & Omissions Policy for your next Film.