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Archive 2016 · $10 Million in Liability coverage

  
 
ayjayy
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p.1 #1 · p.1 #1 · $10 Million in Liability coverage


Ive been talking with a potential client and her venue is requiring photographers to carry $10 million in liability insurance. I use the PPA's liability insurance which maxes out at $1 million/event. Anyone ever run into this before? Can you buy 1 time event insurance? Is it worth it?


Aug 02, 2016 at 12:50 PM
Ziffl3
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p.1 #2 · p.1 #2 · $10 Million in Liability coverage


wowzers .... that is crazy. I know of 2 million policy request.

Looks like you have to do some investigation.

-Mark



Aug 02, 2016 at 12:58 PM
mikethevilla
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p.1 #3 · p.1 #3 · $10 Million in Liability coverage


That's way crazy! I've also had a couple $2 million requests, but nowhere near $10 million. Most insurance policies should offer 1 time coverage for an additional fee. Not sure about PPA specifically as I don't have them.


Aug 02, 2016 at 01:27 PM
BSPhotog
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p.1 #4 · p.1 #4 · $10 Million in Liability coverage


Woa. I've never had a venue even bring it up. #LifeInIowa

What kind of venue is it, a museum or something?



Aug 02, 2016 at 01:29 PM
IrishDino
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p.1 #5 · p.1 #5 · $10 Million in Liability coverage


Let me guess, the venue also has a list of "prefered" vendors?


Aug 02, 2016 at 01:29 PM
ayjayy
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p.1 #6 · p.1 #6 · $10 Million in Liability coverage


Yeah. It is crazy. PPA does not offer 1 time coverage. Looking around online briefly I cant find anyone who offers over $2 million.

The funny thing is I've worked this venue a few months ago and never heard anything about this. I'm hoping this is a misunderstanding. I emailed my contact there for some clarification.



Aug 02, 2016 at 01:31 PM
ayjayy
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p.1 #7 · p.1 #7 · $10 Million in Liability coverage


BSPhotog wrote:
Woa. I've never had a venue even bring it up. #LifeInIowa

What kind of venue is it, a museum or something?


It is a fairly nice downtown hotel, but its not 5-star or anything.



Aug 02, 2016 at 01:33 PM
Mark_L
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p.1 #8 · p.1 #8 · $10 Million in Liability coverage


I've had £5m here just to shoot in a friggin' grass park! These values just keep getting inflated for no real reason other than arse covering.

Edit: depending on your ethics and how much you want to play fair with insurance companies, in the UK at least any policy had a 14 day 'cooling off' period so it is perfectly possible to take out a policy, wait until after the wedding, then cancel.



Aug 02, 2016 at 02:36 PM
benee
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p.1 #9 · p.1 #9 · $10 Million in Liability coverage


That's nuts! I thought industry standard was $1 million/per event, $2 million lifetime.


Aug 02, 2016 at 02:47 PM
Tony Hoffer
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p.1 #10 · p.1 #10 · $10 Million in Liability coverage


I'm guessing they have an exclusive list or something and are trying to make people use those vendors. It's a shame.

We have a vendor that required a 2/4 million policy. That was less than $200 to upgrade for the year and the client paid it. We have our insurance through Erie. Not sure if it helps at all...



Aug 02, 2016 at 03:05 PM
glort
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p.1 #11 · p.1 #11 · $10 Million in Liability coverage



I'm very surprised in the land of red, white and Sue it's so low.

When I go do event or commercial work in venues it's a MINIMUM of $10M which I have and there have been places that wanted $20m.

I'll give you all a tip on ANY insurance.
Raise your excess.
Just looking at the paperwork, I saved $250 on my policy just by upping the excess from $250 to $1000.

The chances of me having to make a claim are minimal ( and haven't done since 2010 when I got the policy) but having to pay the first 1000 if I make a claim isn't going to break me or cause me to loose my house. It has already paid off well and truly though so been worth while.

$10M is the base for public liability and product insurance here these days and has been for a while. I expect $20m won't be far away.

I'm Fascinated somewhere like the states doesn't have it at $100m!



Aug 02, 2016 at 07:39 PM
amonline
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p.1 #12 · p.1 #12 · $10 Million in Liability coverage


^ He makes a good point. Americans are sue happy. It disgusts me.

I carried 1 mill the first 7 or 8 years, then I upped it to 2 in the last few. Guess I better reassess when I step back in.



Aug 03, 2016 at 01:36 AM
Mark_L
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p.1 #13 · p.1 #13 · $10 Million in Liability coverage


amonline wrote:
^ He makes a good point. Americans are sue happy. It disgusts me.

I carried 1 mill the first 7 or 8 years, then I upped it to 2 in the last few. Guess I better reassess when I step back in.


Pushing these ever higher insurance requirements only foster it too since people can sue for big numbers with big value insurance polices. The whole thing feeds on itself.

If it wasn't for venue requirements I'd be tempted to have no insurance at all. Sue me for a gajillion pounds? OK. Take my car (oh, that's financed), my camera gear (oh, which my livelihood depends on) and my property (oh, it's rented).



Aug 04, 2016 at 07:23 AM
MRomine
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p.1 #14 · p.1 #14 · $10 Million in Liability coverage


Back a few years ago (16-20) when I was doing only commercial work which included doing aerial photography, photography of and from skyscrapers and other commercial properties in large metropolitan cities, like Chicago and New York, I had to carry 3 million liability coverage. But this was all before 911.


Aug 04, 2016 at 08:21 AM
OldScotch
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p.1 #15 · p.1 #15 · $10 Million in Liability coverage


To apply for a permit to shoot commercially in a City of Toronto Park, you need to have $2 million in liability - which almost everyone agrees is ridiculous. $10 million is simply obtuse.


Aug 04, 2016 at 04:00 PM
glort
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p.1 #16 · p.1 #16 · $10 Million in Liability coverage


Mark_L wrote:
Pushing these ever higher insurance requirements only foster it too since people can sue for big numbers with big value insurance polices.


It's not quite that simple here. There are other things looked at.

A mate of mine works in aircon. 21 years ago now, one of his former bosses was working at my local town hall. It burnt down rather spectacularly.
The cause was put on a spark from welding smouldering in dust and debris for many hours until it caught alight inside the wall and confined service areas where it had a good hold before fire alarms were tripped. The place was a total loss.
My wife had left about a month earlier after being there 12 years to have our son so escaped a lot of the stress and trauma a lot of other people went through. .

This being the case with the concluded cause, the guys company was held liable for the loss of the building and as one can easily see, it was a lot more to rebuild the civic centre and everything in it than $2m and that was a long time ago.

Because of where my mate works, high rises, hospitals, shopping centres etc, he is required to carry $50M. Not because someone may trip and break their leg on his power lead, but if he does something to damage or cause loss of the building or his work fails and causes a flood or fire or....
While the risk of us as shooters causing these problems may be lower, there is a risk factor in every and anything though the rates we pay would be a lot different as well because of that lower risk.

The fact public liability is so LOW in the US despite the sue happy culture and ambulance chasing lawyers makes me think you must have a different system with the insurance and that maybe the owners of venues carry more of the responsibility as it were to cover themselves.

What the real question is before you all get too upset about the value of what you require is the cost thereof.
How much are you PAYING for your $1 and 2M policys?

I have a feeling the cost to cover oneself for $10M wouldn't be much different to $2m anyway.
Here I know I am in the lowest risk category and more of what I pay for is admin fees than risk factor.



Aug 05, 2016 at 01:22 AM





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