Errors and omissions insurance is complex and typically very expensive, but is also incredibly important if you intend to have wide distribution of your film or if you have questionable or controversial content. This is the type of coverage that Michael Moore and Sacha Baron Cohen don’t leave home without.
While general liability insurance covers literal physical damage to a location or injury to an individual, this insurance covers lawsuits from more intangible reasons like content disputes, intellectual property and copyright claims, or misrepresentation of an individual or a business.
One important note is that prior to obtaining this type of coverage the insurance company will require that you go through something known as “legal clearance” or “clearance counsel”. This is a process by which an entertainment lawyer screens your film (or reviews your script, etc.) to determine if any rights issues exist. You will be expected to acquire proof of rights to copyrighted music, images, text, etc. Don’t forget that acquiring the rights to content is always a good idea, regardless of whether you intend to purchase E&O insurance!
Now that I’ve covered everyone working for me in the US, I finally have the time and peace of mind to think about my upcoming Romanian costume drama. What do I do now? International Locations
There is that sticky question of health insurance, which I should probably get for myself and my employees. Great idea! Health Insurance (Small Groups)