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Hello Filmmakers!
Welcome to the second issue of the Johnsonese Brokerage's Film Production Insurance Newsletter. The goal of our newsletter is to provide useful information about insurance to the film and video production industry.
We've all survived the worst of the 'Great Recession'. We've survived the slow winter months. Now it's time to enjoy the spring film season!
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Two Movie Futures Exchanges Plan 2010 Launch |
If all goes according to plan, two movie futures exchanges will be up and running by mid-year. The exchanges will let investors bet on contracts tied to soon-to-be-released movies, allowing investors to wager on whether movies will be a hit or a flop based on box office receipts. This should be good news for the film industry because it will allow film investors to hedge their risks. This ability to hedge risk could attract more investors to the film business.
The Trend Exchange plans to make its home in Chicago. The company expects to attract movie studios, theater operators, major banks that invest in film production and other financing companies that specialize in the area. Investors will be able to bet on between 12 and 16 movies in the weeks before the movies are released.
Similarly, New York-based Cantor Fitzgerald is also in the process of seeking regulatory approval for a movie futures exchange, to be called the Cantor Exchange.
-Crain's Chicago Business, March 12, 2010
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Casting Office Opening in Chicago Seen as Good Omen |
Joan Philo, a Chicago casting director whose credits include "Public Enemies," "The Dark Knight" and "The Break-Up," has officially opened an office in Chicago's Lakeview neighborhood. Philo has previously cast tens of thousands of paid extras from temporary offices set up by film-production crews.
Her move to a permanent office is hopefully an indication that the film industry in Chicago is picking up after a slowdown in 2009. The Illinois Film Office says that four TV pilots, as well as a Ron Howard-Vince Vaughn movie, will be shooting in Chicago this year.
-Crain's Chicago Business, March 01, 2010
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Alternative Film Funding Methods |
The New York Times has reported that the current film "Breaking Upwards" was produced essentially using 'sweat equity'. Daryl Wein and Zoe Lister-Jones produced the feature-length romantic comedy in New York City for just under $15,000. "...the couple collaborated on the script, played the lead roles and produced the film together, with him also directing and her in charge of tasks ranging from writing the lyrics for the songs to cooking meals for cast and crew.
"Most members of that small, young crew was recruited from Craigslist and worked free." Actors did their own makeup and hair. The film was edited digitally on the couple's television. The film was even self promoted, "...with every tool available, from the latest in Internet social networking to the most basic: writing the title of their movie in chalk on sidewalks and walls around Manhattan."
 As another option, some artists are turning to crowd-funding to get their projects off the ground. Utilizing the Internet, donors are enabled "...to support projects with any amount of money they wish. Projects are financed on an all-or-nothing basis; if a project does not meet its fund-raising goal within a maximum of 90 days, it receives nothing."
A number of web services, including Kickstarter.com, ChipIn.com, CreateaFund.com and FirstGiving.com have been established to provide crowd-funding services. These services typically take a 5% cut if the fund-raising is successful. -New York Times, March 26, 2010 and March 14, 2010
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Judge Dismisses Petition Seeking to Require Condom use in Adult Films |
A Los Angeles County Superior Court judge dismissed a petition seeking a court order to compel condom use on porn sets. The petition was filed by the AIDS Healthcare Foundation. The action came after county health officials released data that showed 18 HIV cases and more than 3,700 cases of other STD's had been reported since 2004 by a San Fernando Valley-based clinic that mainly serves the porn industry.
AIDS Healthcare Foundation plans to appeal the decision and to petition the state Occupational Safety and Health Standards Board.
Perhaps in response, the adult film industry's Free Speech Coalition published a draft of its own blood-borne pathogen plan--a 13 page document that outlines numerous safety precautions but stops short of requiring condom use.
-Los Angeles Times, December 23, 2009
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The Johnsonese Brokerage can assist you with most of your film and video insurance needs. To get started immediately call 773.252.8750 or Email info@johnsonese.com.
Thanks,
Christopher Johnson
Johnsonese Brokerage LLC
insurance for the creative community
2149 W Armitage Ave
Chicago, IL 60647
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About the Johnsonese Brokerage |
The Johnsonese Brokerage LLC is a licensed and bonded independent insurance agency focused on insuring creative businesses.
Who we insure:
-Production Companies
-Low Budget/ Short-Term Films
-Editing Facilities
-Recording Studios
-Photographers
-Prop Companies
-Equipment Providers
-Costume Companies
-Film Festivals
-Special Events
We are licensed in the states of California (license #0G69323), Florida, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, Ohio, Pennsylvania, Texas and Wisconsin. | |
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| Common Insurance Terms
1. Fire Legal Liability
Covers, for example,
damage to rented space resulting from a fire caused by the insured's negligence
2. Extra Expense Coverage
Reimbursement for costs incurred to continue operations when an insured property has been damaged
3. Medical Payments
Insurance
Coverage for minor medical expenses without the need to prove liability
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The Risks of Festival Seating
People are often surprised that festival, or open seating, is a major issue when it comes to insuring live events. The roots of this can be traced to December 3, 1979.
Eleven people were crushed to death at a Who concert in Cincinnati as people rushed forward seeking the best seats. The incident led to a reduced use of festival seating at US venues. Reserved seating can reduce insurance costs.
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AmWins
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AXA
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Chubb
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CNA
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Insurance Noodle
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Markel
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Paychex
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Philadelphia
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Risk Placement Services | |
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