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Enterntainment Insurance
Thursday, February 1, 2007
Creative cover

The South African advertising and film industry has continued to develop as a major global destination for moviemakers, attracted by the exotic locations, reliable weather, and lower production costs.

No surprise then that Shield Financial Services, which specialises in providing film and ‘weatherday’ insurance, has enjoyed good business; and further, that it has eventually been taken over by Aon South Africa, a member of the global Aon Corporation.
With headquarters in Chicago, Aon is a leading provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. With an employee base of 46 000 people working in 500 offices in more than 120 countries, it rightly claims to ‘have a broad view’ of the insurance industry. “We can anticipate how changes in one sector can impact on another, and this helps us integrate our services while leveraging our expertise across hundreds of disciplines around the world,” says the company.
The local acquisition is now called Aon Shield and will continue as a division dedicated to the film and advertising production market
Comments Dani Ettridge of Aon Shield, “The challenge is to provide covers not only for the physical risks, but also to safeguard the enormous investment advertisers make in brand equity. This investment is often made up of a multi-faceted programme over and above print and television advertising, extending to sponsorships, live activations and promotions. Aon Shield has developed solutions to protect this investment by insurance for Cancellation & Abandonment, Death & Disgrace and Prize Indemnity.”
Insurance is not only the grudge purchase necessary to lay-off risk, but can also be an opportunity to leverage a prize budget. Aon Shield has for example arranged insurance for several game shows in which the prize money offered to contestants is underwritten by the insurers. Sponsors can motivate their sports people or teams with insured incentive bonuses. “This is particularly advantageous as we all agree, more podium places and wins, mean more exposure for the sponsor,” she adds.
The brokerage also caters for conferences, exhibitions and special events. Non-appearance, loss of venue and the increasing threat of terrorism can be covered, as well as, adverse weather if required. Cover is not dependent on the size of the event and is available for both small and large presentations.

Copyright © Insurance Times and Investments® Vol:20.1 1st February, 2007
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