Political risk coverage protects perils of film productionPosted On: Jun. 6, 2016 12:00 AM CST
Ironshore International has launched an 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 damage of equipment and property caused by acts of foreign governments while filming on location, Ironshore said in a Monday statement.
The policy coverage includes equipment, props, wardrobe and other production materials for loss as a result of abandonment, deprivation, expropriation and license cancellation, according to the statement.
Policy limits are available up to $40 million, an Ironshore spokeswoman said in an emailed statement.
“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,” James Dover, New York-based senior vice president for war and sabotage, said in the statement.