Ironshore International has introduced a new insurance product designed for film production companies shooting in risky locations worldwide.
The political risk programme aims to protect movie producers against loss or damage of equipment and property caused by acts of foreign governments.
Offered within Ironshore’s war and terrorism platform, the product provides 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. The policy covers equipment, props, wardrobe and other production materials for loss due to abandonment, deprivation, expropriation and license cancellation.
The new product will be underwritten through Ironshore’s Pembroke Lloyd’s Syndicate 4000 in London.
“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,” said James Dover, senior vice president, war and 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,” he added.