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Posted by Steve Guidry on 12/27/06 15:10
Plain ol' business casualty and inland marine insurance is fairly easy to
obtain. You should start with a local independent insurance agent. After
he gets you a quote, then ask a second agent for a comparable quote.
But that doesn't sound like what you're asking for. It sounds like you're
asking for someone else to take the loss if you happened to get sued for
publishing marginally true and/or controversial stetements. ( OK, OK,
you're really just trying to have a first line of defense against those
deep-pocket folks who want to silence the truth, right ? ) Whatever . . .
In my experience, this kind of coverage is pretty hard to get. I've got a
garden variety "media liability" insurance policy, and at $4k per year, it
has so many exceptions that it will likely be useless if we actually get
sued. But no one will air the shows we produce without it, so it's a cost
of doing business.
You really should ask your attorney what he/she thinks your real exposure
is. If you don't have a GP, then pick someone with some media liability
experience. An initial consult might be free, but probably won't run you
more than $300 or so. You may not need it, but the last time I got a formal
written opinion on a media matter, it cost me about $3k.) Describe the
project completely, and don't hide anything from him/her. Be honest about
what you think the exposures are, and be sure to ask for a wild-ass guess as
to the defense costs should you get sued. Good luck. Finally, ask him/her
about a separate corporation to hold the assets of the project. Such a
structure _might_ (heavy on the might ) offer a measure of protection by
insulating your personal assets.) But be aware that - - at a minimum - -
you'll have to tread tediously so as to keep proper corporate formality by
doing employment contracts between the corp and you as well as everyone else
involved with the project. But even then this might not be enough.
And another thing . . .
_DON'T_ rely on free opinions you get here on usenet !
Steve
> Need suggestions for insurance. The usual stuff equipment damage and
> theft, liability while in production. Also, I am doing a documentary
> regarding a bunch of outspoken artists. Would like protection from
> anyone that does not like any statements.
>
> Any suggestions greatfully read. Thank you.
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