Entry Details

About the Entry

Category: 
Print > Feature Article > 12 or More Issues per Year > Pacific

Title of entry: 
Entertainment Feature

Issue or Publication date:
May 22, 2023

Publication name: 
Insurance Journal

Publishing/parent company: 
Wells Media Group Inc.

View Website home page:
https://www.insurancejournal.com/

Description of the enterprising work that went into this entry and its significance or impact on readers:

Insurance Journal Magazine has been providing property/casualty insurance industry news and information for 100 years. While other P/C publications serve the broader industry, Insurance Journal’s print magazine serves the independent agency audience which includes agency owners and principals, sales producers and support staff. Published 22 times per year, Insurance Journal Magazine focuses on content and resources to help agencies improve their operations and business strategies.

As entertainment related businesses made a full return to pre-pandemic volume in 2023, Insurance Journal’s primary audience - insurance agents and brokers - grappled with much higher prices to insure these risks and limited coverage terms from insurance carriers.

This feature article by Insurance Journal South Central/Midwest Editor Ezra Amacher highlights some of the most pressing issues driving up prices for entertainment businesses, including natural catastrophes, spectator and performer safety concerns, and limited capacity available among leading insurance carriers. Amacher spoke with industry experts in this specialty sector about live performances, including on stage and outdoor festivals, how the use of drones and pyrotechnics creates added risk to both spectators and performing artists and the rising risk of active shooters.

While insurance pricing for liability coverage has leveled off since the pandemic, Amacher wrote that insurance carriers have drastically reduced their ability to offer higher limits of coverage. That trend is leading to complexities in how insurance agents and brokers tailor policies for large productions, he wrote. Entertainment insurance specialists revealed to Amacher that performers, promoters and entertainment venues must be willing to pay the price for necessary insurance coverage because the show must go on.

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