The Naked Truth About Errors in addition to Omissions Insurance from the globe of Indie Film Distribution

The Naked Truth About Errors In Addition To Omissions Insurance From The Globe Of Indie Film Distribution

Errors in addition to Omissions Insurance (E & O Insurance) is actually something every movie producer needs if they want to sign a movie distribution deal.

The Naked Truth About Errors In Addition To Omissions Insurance From The Globe Of Indie Film Distribution

I'm not an entertainment attorney or insurance salesperson, nevertheless Errors in addition to Omissions Insurance protects you in addition to the movie distributor you sign a deal with via different lawsuits common from the entertainment business.

The Naked Truth About Errors In Addition To Omissions Insurance From The Globe Of Indie Film Distribution

These include allegations of breach of contract, copyright infringement, defamation or degradation of products (showing trademarks on camera), invasion of privacy, infringement on title, slogan in addition to lots of various other nasty legal salvos.

The Naked Truth About Errors In Addition To Omissions Insurance From The Globe Of Indie Film Distribution

the item's an insurance policy that will protects a movie producer in addition to movie distributor's ass from the course of doing business from the entertainment industry.

The Naked Truth About Errors In Addition To Omissions Insurance From The Globe Of Indie Film Distribution

Errors in addition to Omissions Insurance does not deal with the creative side of creating movies, so lots of times some indie movie producers do not plan for the item in their movie budgets.

The Naked Truth About Errors In Addition To Omissions Insurance From The Globe Of Indie Film Distribution

nevertheless if you want to sell your show to a movie distributor you'll have to learn what the item's all about at some point.

The Naked Truth About Errors In Addition To Omissions Insurance From The Globe Of Indie Film Distribution

that will's unless you're movie distribution plan is actually using your own Website to sell digital downloads or DVDs online or hitting the streets with copies from the trunk of your hybrid vehicle.

I know more than a few indie filmmakers that will make decent money selling movies that will way without ever having to worry about the cost of an Errors in addition to Omissions Insurance.

I respect their energy in addition to push to get out there to sell their movies directly online or in person through all sorts of ways. that will's a post on self-distribution left for another day.

The Catch-22 with Errors in addition to Omissions Insurance has to do with dealing with movie distributors.
Every distribution deal coproducer Tim "Timbo" Beachum in addition to I have been involved with via selling indie movies to reality programs has involved E & O Insurance.

After you finish your movie odds are you're going to want to land meaningful distribution for the item.
that will means working using a movie distributor to get released by main retail outlets domestically in addition to internationally in every medium possible.

Movie distribution deals for indie cinema usually happened two ways. A movie is actually screened at different film festivals, gets the attention of a distributor in addition to a film distribution agreement is actually offered to acquire the rights or an offer is actually made to buy the movie rights outright.

Or you skip the film festival circuit in addition to contact movie distributors directly using a screener in addition to your various other marketing materials like artwork etc. If they like what they see a distribution agreement is actually sent your way to consider.

By This specific time the euphoria of creating a movie has faded. You're currently dealing with the business of creating movies. You have film investors you have to pay back with interest.

Even if the item was your own hard-earned cash invested to produce your movie you're going to want to be able to pay yourself back with interest.

Indie filmmakers all make movies via different financial places, personal motivations in addition to creative needs. None of the reasons you make movies for truly matters to a movie a distributor.

When you're dealing with movie distribution agreements the item's all business. So once your film sales representative, entertainment attorney or you rep your own movie to hammer out a deal in addition to you sign a film distribution agreement you're going to immediately get hit with film deliverables list.

The film deliverable list can knock an unprepared filmmaker on their ass. Just as before the film delivers a list is actually a topic left for another post.

On This specific movie creating post we're focusing on Errors in addition to Omissions Insurance, which is actually one of the key deliverables a movie distributor requires you to meet promptly.

Like in a Hitchcock movie I mentioned Catch-22 with Errors in addition to Omissions Insurance from the post, currently the item has to be used.

the item always a lot cheaper to purchase your own Errors in addition to Omissions Insurance via a reputable company than the item is actually selling on a movie distributor to cover the cost.

The Catch-22 is actually that will some, not all, nevertheless some movie distributors that will cater to releasing indie produced films use E & O Insurance to gouge the eyes out of indie filmmakers with an inflated cost.

The movie distribution company will tell an indie filmmaker that will does not have Errors in addition to Omissions Insurance not to worry. They'll set up a policy with an insurance broker they know, pay for the item in addition to only deduct the cost via any advances or future film royalties.

Sounds not bad if you do not develop the money to buy an E & O Insurance policy yourself considering no money comes out of your pocket upfront. nevertheless the item does not feel not bad when you have your upfront advance or later royalty payments hit hard for E & O Insurance.

You can end up paying anywhere via a 0% to 400% mark up on the cost. Like I said not all movie distributors that will cater to releasing indie films do This specific kind of BS, nevertheless there ones that will do.

Every business has people out to screw you. Dealing directly with an agent to buy your own Errors in addition to Omissions Insurance policy will ALWAYS SAVE YOU MONEY.

nevertheless I completely understand how the item goes to finally finish a movie in addition to end up not having a hundred bucks left in your budget to deal with the real hard costs of getting through film deliverables.

the item's a smart move in preproduction to contact companies that will specialize in producer's Errors in addition to Omissions Insurance to compare quotes. Once you have those prices you can plug the item into your budget.

I like to include the item as part of the postproduction budget as a line item. the item helps remind me as an indie movie producer working using a limited budget that will after we wrap a movie there is actually still a long way to go to get through postproduction in addition to film deliverables.

Even if you know you will not develop the money for E & O Insurance after you sign a movie distribution deal at least by knowing what policies cost you can negotiate the cost down the distributor will charge you.
This specific is actually the part I call the Catch-44. Be wary of dealing with movie distributors that will will not accept your Errors in addition to Omissions Insurance policy.

They may have special requirements like your policy is actually not via a carrier licensed in their state or some various other reason to decline your E & O Insurance.

If you've already signed a deal with them before asking if your own Errors in addition to Omissions Insurance policy satisfies their requirements you could have been in a bit of a fight.

You've played the rules in addition to saved money by buying your own E & O Insurance policy, nevertheless currently you're bumping heads on This specific issue. If you have not signed a deal move on to another distributor.

As long as your E & O Insurance policy is actually via a reputable company another movie distributor will honor the item if they want your movie.

If you're signed on the dotted line you might have to suck the item up in addition to bite the bullet in addition to go using a broker recommended by the movie distributor that will will usually charge a bit more than you might have paid on your own.

The insurance company does not add the mark up. the item's the movie distributor adding their juice for doing you a favor covering the cost.

The truth about Errors in addition to Omissions Insurance from the globe of indie film distribution is actually not always fair or pretty, nevertheless either is actually life.

The Naked Truth About Errors in addition to Omissions Insurance from the globe of Indie Film Distribution

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