Here at InsuranceHub, we have experience helping personal managers that work with models, actors, actresses, stunt persons, production managers, and related stage employees in booking performing engagements and employment.
Thankfully, here at InsuranceHub, we understand the risks that theatrical agencies face. We understand the risks associated with:
- Booking your client's performances.
- Promoting your client.
- Managing the payment of fees.
- Booking transportation and lodging.
- Arranging photo shoots.
- Finally getting paid your commission and fees.
We also understand the unique risks associated with having 2 different kinds of clients:
- Actors and actresses that want work.
- The person that is seeking the talent.
Protect yourself with a contract that clearly lays out the terms and conditions of the employment arrangement. It must clearly define who is obligated and responsible for providing workers comp coverage, who pays your commission fee, who handles payment to the employee, and who accounts for taxes and other deductions.
Types of exposure that theatrical agencies need protection from:
Property exposures: This is typically confined to your office. Fire source potentials include your electrical wiring, as well as wear and overheating of office equipment. You may also be concerned about theft depending on the type of computer and automation equipment you have at your location.
Crime exposure: You have the potential for employee dishonesty. Wisdom dictates that you take the time to do background checks on all employees and workers. Set up monitoring procedures for all employees. Secure all records to prevent unauthorized access and theft of social security numbers. Use a different person to order, bill and disburse funds. Finally be sure to do annual account audits.
Inland marine exposures: Do you have some clients that keep running tabs on their open invoices? If yes, then your accounts receivable is at risk. Your computers that you use are at risk. Finally your valuable papers and records at risk, so make copies of all important client & vendor papers and store them off site.
Premises liability exposure: This shouldn't be too high considering much of your work is probably done by phone. To protect your clients and your theatrical workers that do come to your office it is imperative to keep your waiting area and bathrooms well lighted with floor covering in good condition. It is important to protect your temp workers identity by keeping valuable records in locked filing cabinets. If you keep these records including social security numbers on your computer then you might consider getting some cyber liability coverage. Be careful to not breach confidential information on workers and employees.
Errors and omissions exposure: Your biggest concerns here come from
making commitments and booking workers for a project. If you can't supply the needed workers on the correct date with the right qualifications it might lead to a lawsuit if your client is hurt financially.
Automobile exposure: Do you offer shuttle service for temporary assignments or transportation to interviews? Do your employees use company vehicles for running errands? Check that all drivers have the correct licenses for the vehicles being used. Do you currently run MVR's on a regular basis? Finally, maintain all vehicles along with their records.
Workers compensation exposure: This usually is limited to office-type hazards. Take the time to educate your workers to minimize eye strain, neck strain, carpal tunnel syndrome, and repetitive stress injuries. Ergonomically designed workstations may reduce worker injuries. Make sure that your contracts outline who is responsible for paying worker's comp coverage.
Here is the minimum recommended personal manager insurance coverage:
- Business Personal Property
- Employee Dishonesty
- Accounts Receivable
- Valuable Papers and Records
- General Liability
- Employee Benefits
- Hired and Nonownership Auto
- Workers Compensation
Other modeling agency insurance coverage to consider:
- Computer Fraud
- Employment-related Practices
- Business Auto Liability and Physical Damage