La Playa Arts & Entertainment: Insurance with Intelligence®

Specialist Insurance for Arts Organizations

La Playa: Insurance with Intelligence®

Cancellation Insurance for Artist Managers

Does the thought of a hand injury to a key musician bring you out in a cold sweat?
How much do you rely on income from your biggest artists?

But Cancellation Insurance is expensive for an agent, right? Not if you're smart about it: La Playa's Cancellation Insurance offers a "friends and family" style policy, allowing you to insure just your key artists, choosing which risks and what period to cover.

If, like many agencies, your business relies significantly on income from particular artists and writers, it's worth considering the impact of a short, medium and long-term illness or injury on your revenue.

Without breaking the bank, it's possible to identify your most vulnerable spots and minimise your exposure with some well-designed cancellation insurance.

What is Cancellation Insurance?

Cancellation Insurance replaces commission lost as a result of the inability of or loss of opportunity for artists to perform. It can also help with efforts to reduce further losses (eg: chartering a plane to get around a transport strike).

How much should I insure?

It may not be worth insuring every artist for every cancellation - most artist managers absorb attritional losses of around 5% of commission in a normal year. Only you know where you're most exposed.

You could simply cover your top 5 earners, e.g.:

  • Artists/events: you could insure only your biggest earners or most lucrative events.
  • Duration: you can choose the policy duration - 12 or 24 months, or specific tour dates.
  • Perils: look at your contractual obligations - which perils would hit hardest? Illness/injury? Venue issues like flood, fire, loss of power, strike? Transportation - mechanical breakdown, strike, weather?
Artist Profession Income £
Hepburn Actor 80,000
Shakespeare Writer 160,000
Lanza Singer 140,000
Nijinsky Dancer 20,000
Karajan Conductor 30,000
Total 430,000

 

 

 

 

 

 

How much does it cost?

The premium is a rate percent of the total sum insured. Ranging from 1.00% to 3.5%, factors include artists' ages, cancellation history and level of income. On the example given, the premium would be between £3,290 and £11,515.

Be Smart

Identify your weak spots, quantify the potential impact of cancellation and get specialist advice to make sure you don't pay more than you need to.

Cancelled

We can help with insuring...

Property: computers, audio visual equipment, offices

Consequential Loss: protects income streams during physical and technological disruptions (fire, flood, power & telecommunications failure)

General Liability: cover for compensation payments arising from damage to third party property or personal injury

Workers' Compensation: for injury and illness to employees and freelancers

Errors & Omissions: helping to defend you against allegations of libel, slander, infringement of copyright, breach of confidentiality

Directors' & Officers' Liability: protecting decision-makers against alleged mismanagement of the organization

Travel & Touring: trip cancellation, medical expenses, passport replacement, loss of baggage

Specialist Cancellation Insurance: cover against financial loss as a result of cancellation, abandonment, postponement or re-scheduling of an event. As an artist manager, you can opt to insure your highest earning artists/authors with a “friends and family” type policy – entirely flexible and designed to cover areas where your income is most vulnerable - without breaking the bank. Some problems are worth losing sleep over. We believe insurance isn’t one of them. More >

We understand you so well, we'll complete the form for you if you prefer! Let's talk...

Download: Arts & Entertainment Brochure

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What's Covered?

Auto Insurance
Auto Insurance
Dance Schools Insurance
Dance Schools Insurance
Cancellation and Non-Appearance
Cancellation and Non-Appearance
Performing Arts Insurance
Performing Arts Insurance
Consequential Loss Insurance
Consequential Loss Insurance
Cyber Risks Insurance
Cyber Risks Insurance
Directors & Officers Liability
Directors & Officers Liability
Employment Practices Liability
Employment Practices Liability
Errors & Omissions Insurance
Errors & Omissions Insurance
Workers' Compensation
Workers' Compensation
General Liability
General Liability
Inland Marine
Inland Marine
Trustee Liability
Trustee Liability
Property & Equipment
Property & Equipment
Travel & Personal Accident
Travel & Personal Accident

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Specialist & Independent

The arts present a very specific set of risk exposures – and now your digital and online risks can expose you globally. We understand the risks and pressures you face - and we speak your language. We’ll support you with great advice - helping you make good decisions for your organization.

Our policies can help streamline costs, and we’ll always help you stay ahead of the game in managing risk. The show must always go on - insurance isn’t just about processing a claim, it’s about thinking laterally to solve challenges and problems fast.

At La Playa, we’re passionate about the arts and creative industries – many of us are practitioners and active consumers; in fact, La Playa founded the first ever corporate art collective!

Advice You Can Trust

…from an expert who understands you

  • Specialist insurance for entertainment and the arts
  • Independent professional advice
  • Relationship-based service: right beside you when you make a claim
  • “Can do” culture
  • Seamless insurance across US and UK
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