Insurance Program Results
Live Entertainment Booms
Existing capacity and new players will keep rates for live entertainment risks fairly static despite skyrocketing ticket sales and growth in the size of existing outdoor festivals. While overall premium volume for this business will grow this year, fewer carriers will lend an ear to high-risk venues, typically events that include overnight camping, amusement rides, pyrotechnics, or have a specific musical genre or loss experience.
Gross ticket sales reached a record breaking $4.8 billion worldwide last year. In North America, attendance increased by 23 percent last year compared to a decrease of 6 percent in 2012. These ticket sales have been driven by a wider variety of acts instead of major events like Madonna and U2, which tend to sell tickets at higher prices. Also, more artists are going on tour because it’s become increasingly difficult to make money by album releases alone. Renewed interest and the affordability of live entertainment are expected to drive ticket sales and attendance well into 2015. (8-25-14)
Pyrotechnics
Administered By: PPIB
Distribution: MGU
| Industries: |
Pyrotechnics/Fireworks, Stage Risks |
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Carriers: Lloyd's of London
Coverage: Cargo, Commercial Auto, Commercial Property, Workers' Compensation
Limits:
Performing Arts Groups
Administered By: Markel
Distribution: Direct/Broker
| Industries: |
Art Galleries/Fine Art/Museums/Antique Dealers, Dance Studios/Instructors, Stage Risks |
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Carriers: Markel Corp.
Coverage: Accident & Health, Business Income/Extra Expense, Crime, Equipment Breakdown, Excess, Inland Marine, Property, Umbrella/Excess
Limits: up to $1 million (General liability: per occurrence), up to $5 million (Umbrella liability), up to $3 million (General liability: aggregate )
Active Shooter/Deadly Weapon Liability
Administered By: McGowan Program Administrators
Distribution: Program Administrator
| Industries: |
Churches/Religious Institutions/Organizations, Colleges & Universities, Commercial Real Estate, Community Associations, Education & Nonprofit, Film Risks, Political Risk (Terrorism/War/General), Private Companies, Public Companies , Retail, Stage Risks |
|---|
Carriers: Lloyd's of London
Coverage: Deadly Weapon Protection Liability
Limits: $50,000 - $20 million
Concert/Event Promoters
Administered By: American Specialty
Distribution: Program Administrator
| Industries: |
Events and Event Planners, Stage Risks |
|---|
Carriers: XL Insurance Co.
Coverage: Commercial Auto, Commercial Property, Crime, Employee Benefits Liability, Excess, General Liability, Liquor Liability, Medical Expenses, Umbrella/Excess
Limits:
Convention Centers/Civic Centers
Administered By: American Specialty
Distribution: Program Administrator
| Industries: |
Sports Facilities, Stage Risks |
|---|
Carriers: XL Insurance Co.
Coverage: Commercial Auto, Commercial Property, Crime, Employee Benefits Liability, Excess, General Liability, Inland Marine, Liquor Liability, Umbrella/Excess
Limits:
Event Cancellation Insurance
Administered By: HCC Specialty
Distribution: Direct/Broker
| Industries: |
Events and Event Planners, Sports Facilities, Stage Risks |
|---|
Carriers: AIG, HCC, Lloyd's of London
Coverage: Special Events
Limits: up to $85 million (In-house capacity)
Festivals
Administered By: American Specialty
Distribution: Program Administrator
| Industries: |
Events and Event Planners, Stage Risks |
|---|
Carriers: XL Insurance Co.
Coverage: Commercial Auto, Commercial Property, Crime, Employee Benefits Liability, Excess, General Liability, Liquor Liability, Umbrella/Excess
Limits:
Inland Marine
Administered By: Kinsale Insurance
Distribution: Carrier Direct
| Industries: |
Art Galleries/Fine Art/Museums/Antique Dealers, Builders Risk/Home Builders, Construction Equipment/Machinery/Materials, Equipment Dealers, Farm/Ranch/Agribusiness, Miscellaneous Risks, Stage Risks, Trucking |
|---|
Carriers: Kinsale Insurance Co.
Coverage: Bailee, Inland Marine, Motor Truck Cargo, Warehouse Legal Liability
Limits:
Performing Arts Centers
Administered By: American Specialty
Distribution: Program Administrator
| Industries: |
Stage Risks |
|---|
Carriers: XL Insurance Co.
Coverage: Commercial Auto, Commercial Property, Crime, Employee Benefits Liability, Excess, General Liability, Liquor Liability, Umbrella/Excess
Limits:
Special Events
Administered By: American Specialty
Distribution: Program Administrator
| Industries: |
Events and Event Planners, Stage Risks |
|---|
Carriers: XL Insurance Co.
Coverage: Commercial Auto, Commercial Property, Excess, General Liability, Inland Marine, Umbrella/Excess
Limits:
Specialty Event Liability
Administered By: HCC Specialty
Distribution: Direct/Broker
| Industries: |
Events and Event Planners, Film Risks, Stage Risks, Youth Sports |
|---|
Carriers: AIG, HCC
Coverage: Special Events, Third-Party Liability
Limits: up to $11,000,000
Take 1 Insurance
Administered By: U.S. Risk
Distribution: MGA
| Industries: |
Audio/Visual Equipment Dealers, Car Rental/Car Rental Companies, Film Risks, Stage Risks |
|---|
Carriers: Firemans Fund Insurance Co.
Coverage: Excess, General Liability, Inland Marine, Media Liability, Professional Liability, Property, Umbrella/Excess
Limits: up to $1M/$2M (General Liability), up to $2M per claim (Professional Liability)
Entertainment
Administered By: Alive Risk
Distribution: MGA
| Industries: |
Film Risks, Rentals (Amusement/Entertainment), Stage Risks |
|---|
Carriers: Lloyd's of London
Coverage: Contingency Insurance, Excess
Limits: up to $10,000,000 (Excess)
Live/Stage Entertainment
Administered By: OneBeacon Insurance Group
Distribution: Carrier Direct
| Industries: |
Amusement Parks, Events and Event Planners, Stage Risks |
|---|
Carriers: OneBeacon Insurance Co.
Coverage: Crime, Errors & Omissions (E&O), Excess, General Liability, Liquor Liability, Umbrella/Excess, Weather Insurance
Limits:
Shell Corps
Administered By: Abacus Insurance Brokers
Distribution: MGA
| Industries: |
Broadcasts/Broadcasters (Radio/Television), Film Risks, Stage Risks |
|---|
Carriers: North American Specialty Insurance Co.
Coverage: Commercial Auto, Excess, General Liability, Inland Marine, Umbrella/Excess
Limits: up to $10 Million (Excess), up to $5 Million (Inland Marine ), up to $10 Million (Liability )
Thearical Groups
Administered By: Abacus Insurance Brokers
Distribution: MGA
| Industries: |
Stage Risks |
|---|
Carriers: North American Specialty Insurance Co.
Coverage: Commercial Auto, Excess, General Liability, Inland Marine, Umbrella/Excess
Limits: up to $10 Million (Excess ), up to $5 Million (Equipment ), up to $10 Million (Liability)
Threat of Malicious Attack (Terrorism)
Administered By: Hiscox USA
Distribution: Carrier Direct
| Industries: |
Casinos, Hospitality (Hotels/Motels), Restaurants, Retail, Stage Risks |
|---|
Carriers: Hiscox Insurance Co. Inc.
Coverage: Terrorism
Limits: up to $5 million (Per Occurrence), up to $20 million (Annual Aggregate)
Touring Entertainers
Administered By: Abacus Insurance Brokers
Distribution: MGA
| Industries: |
Stage Risks |
|---|
Carriers: Travelers Cos.
Coverage: Commercial Auto, Excess, General Liability, Inland Marine, Umbrella/Excess
Limits: up to $10 Million (Excess ), 0 - $5 Million (Equipment ), up to $10 Million (Liability )
Travelers Entertainment
Administered By: Travelers Indemnity Co.
Distribution: Carrier Direct
| Industries: |
Events and Event Planners, Film Risks, Stage Risks |
|---|
Carriers: Travelers Indemnity Co.
Coverage: Commercial Auto, Errors & Omissions (E&O), Excess, General Liability, Inland Marine, Property, Umbrella/Excess, Workers' Compensation
Limits:
Entertainment
Administered By: Specialty Insurance Group
Distribution: MGA
| Industries: |
Amusement Parks, Events and Event Planners, Rentals (Amusement/Entertainment), Stage Risks |
|---|
Carriers: Everest National Insurance Co.
Coverage: Abuse & Molestation Liability, Business Income/Extra Expense, Commercial Auto, Contingency Insurance, Crime, Directors & Officers (D&O), Errors & Omissions (E&O), Excess, General Liability, Inland Marine, Liquor Liability, Participant Accident, Prize Indemnity , Umbrella/Excess, Weather Insurance, Workers' Compensation
Limits: up to $10 million (Contigency), up to $20 million (Property), up to $10 million (Most Casualty Coverages)