Source: Ironshore Press Release
Ironshore International is introducing a specialty insurance product designed to address the risk exposure of film production companies shooting in at risk locations worldwide.
Ironshore’s Political Risk program is underwritten to protect film producers against loss and/or damage of equipment and property caused by acts of foreign governments while filming on location. Policy coverage includes equipment, props, wardrobe and other production materials for loss due to abandonment, deprivation, expropriation and license cancellation. Ironshore’s Political Risk film production product will be offered within its War and Terrorism platform to provide film producers with comprehensive coverage of loss related to confiscation and various political violence perils
Risk coverage can include property damage and time element losses as a result of war, terrorism and political acts when filming in at risk locations worldwide outside of the U.S.
“Film production is an industry that reaches into every corner of the world, thus exposing companies to the potential for significant loss from acts of foreign governments,” stated James Dover, Senior Vice President, War & Sabotage. “Ironshore’s specialty product for this complex industry risk combines political risk with war and terrorism coverage to protect producers filming in territories with a history of uncertainty and turmoil.”
Ironshore’s Political Risk program offers structured, international policy protection for in country or cross border exposure to government actions and political risk events. Ironshore International underwrites the film production product through its Pembroke Lloyd’s Syndicate 4000 in London.