When your audience views your film, they’re only seeing a small slice of what it took to produce your artistic creation—your actors, props, locations, and other elements.
For filmmakers, these components are essential, but they’re hardly enough to successfully launch a movie. From signing agreements to editing shots, creating a well-produced film is an involved process.
One of the most important behind-the-scenes requirements for your film is errors and omissions insurance or E&O insurance.
E&O insurance is just as vital for your film as finding the right cast or selecting the right storyline, and it can affect your film before and after production. To see why this insurance product is so vital, here’s what you need to know.
What E&O Insurance Covers and Why You Need It
E&O insurance is a must for filmmakers because it helps mitigate financial loss to protect films.
In the face of a film lawsuit, E&O insurance will provide protection for…
- A court battle involving a copyright infringement.
- Accusations that your film title violates a trademark.
- Allegations that there is libel in your film.
- Claims your film has invaded the privacy of an individual.
- And more.
Creating and releasing a film can expose you to companies who are overzealous of their trademarks or individuals who spot libel in your storyline. E&O insurance is your safety net for the legal landmines in the entertainment industry.
When to Obtain E&O Insurance
Even if you know you need E&O insurance, you may wonder when to start shopping for the best policy. If you’re questioning the timing of your application, here is some important information.
You’ll need E&O insurance to distribute your film in the U.S. and many other nations. It is not inherently necessary to have this coverage until you distribute your film. Just remember that “distribute” in the context means disseminate publicly, whether through a distribution deal or four-walling the film at a local theater. Waiting until post-production is no time to start researching your options, but the timing of purchasing coverage is generally up to the producers.
Furthermore, as Front Row Insurance states that you may need E&O insurance before the first day of principal photography to obtain financing. That means that some filmmakers may need to obtain coverage before shooting scenes is even an option. As is the case with many aspects of film and television production, the timing of your policy purchase is often controlled by third parties.
Applying for E&O Insurance
Applying for E&O insurance can be a complicated process. You and your team will need to review the detailed application form of your E&O insurer.
More than likely, this form will require you to provide a plethora of information that reveals your film’s legal risk. Collecting the information you need to complete your application can be a lengthy process, so be sure you plan a sufficient amount of time.
Be aware that when you request E&O insurance, your provider will probably ask for a title report. In addition to this, your insurer will likely desire information on your use of character names, product names, and more in your script. This is something you can easily provide through a script clearance report.
You can smooth your path to E&O insurance when you obtain a Clearance Package from The Clearance Lab.
A Clearance Package can provide…
- A title report and title opinion.
- A copyright report.
- A script clearance report.
- A review of your clearance procedures.
- And more.
The result is you help your film obtain the necessary E&O insurance to avoid disastrous and costly legal battles.
Ease your E&O insurance application, and help your film find important protection when you request a Clearance Package from The Clearance Lab.