Running a business in the entertainment industry can be exhilarating – the electric energy of a crowd undulating against the stage like ocean waves is an sensation like no other, and managing world-class artists is a once-in-a-lifetime experience. But bad things can happen, and that’s when entertainment business insurance is critical so you can get back to normal operations quickly and with minimal hassle. Here are some problems your business could encounter and why you might need a policy to protect you – before it happens.
Music festivals are often full of loving energy, top-quality performers….and drugs. Illegal substances such as ecstasy and LSD – as well as legal substances such as alcohol – can pose a major threat to your customers. Should a festival attendee overdose while at your venue, you may be held liable for damages. Although nothing can mitigate the physical and psychological effects of a drug- or alcohol related accident, your insurance policy can cover legal fees, fines, and restitution should this unfortunate event transpire.
Producing a film consists of many different people in motion alongside potential physical hazards such as dolly tracks and miles of electric cable. A worker or visitor to the set might trip on a cord and break an arm, and you as the production company might be responsible. Your insurance policy can cover medical bills, lost income, and legal fees associated with this terrible occurrence.
No matter what form of entertainment your business delivers, physical hazards can cause injury which can in turn lead to an expensive chain of events. Be sure to have entertainment business insurance in place before, not after.