La Playa Arts & Entertainment: Insurance with Intelligence®

Specialist Insurance for Arts Organizations

La Playa: Insurance with Intelligence®

Key Person Insurance

Who’s the life and soul of your business? If you can name them, you probably need Key Person Insurance

Most organisations employ at least one person who is critical to the future success of the enterprise - be it the original founder, a rainmaker, shareholder or some other “Key Person” with a particular skill or expertise. Key Person insurance protects you against the financial consequences of losing key staff members.

Issues to ponder….

  1. Does any member of staff make a large contribution to the profits?
  2. Are borrowings covered by Life/Critical Illness Insurance on the directors/partners?
  3. If you already have a Key Person Protection package in place, does this include Critical Illness cover? Has the sum assured/premium been reviewed recently?

Key Person Insurance provides a cash injection (either as a lump sum or as a flow of income) to your business if a key person dies or suffers a serious illness, allowing the business to continue trading at a time of considerable uncertainty and financial pressure.

Key person Insurance can cost as little as...

Age Term Amount Cover Cost PCM
40 5 Years £  250,000.00 Life Only £14.59
40 5 Years £  250,000.00 Life or Critical Illness £70.74
45 5 Years £  250,000.00 Life Only £19.60
45 5 Years £  250,000.00 Life or Critical Illness £104.58
45 5 Years £  500,000.00 Life Only £35.74
45 5 Years £  500,000.00 Life or Critical Illness £206.76
45 10 Years £  250,000.00 Life Only £41.69
45 10 Years £  250,000.00 Life or Critical Illness £248.53

Among other things, Key Person Insurance can cover:

  • Loss of profits suffered until a replacement is found, is in place and is fully effective.
  • Payment for the (often substantial) costs of recruitment and training of a replacement.
  • If absence is due to critical illness, and if a return to work is likely, payment of income to the “absent” person, as well as funding the cost of a temporary replacement.

Already have protection in place? Great, but when was this last reviewed..?

Both your business and the economic situation have probably changed significantly in the past couple of years, meaning that the protection you put in place may now not reflect your business going forward.

Key Person Insurance

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?

Business Interruption Insurance
Business Interruption Insurance
Business Protection
Business Protection
Cancellation and Non-Appearance
Cancellation and Non-Appearance
Performing Arts Insurance
Performing Arts Insurance
Cyber Risks Insurance
Cyber Risks Insurance
Directors & Officers Liability
Directors & Officers Liability
Employers' Liability
Employers' Liability
Employment Practices Liability
Employment Practices Liability
Key Person Insurance
Key Person Insurance
Legal Expenses
Legal Expenses
Motor Insurance
Motor Insurance
Pensions and Benefits
Pensions and Benefits
Performing Arts Portfolio
Performing Arts Portfolio
Professional Indemnity
Professional Indemnity
Property & Equipment
Property & Equipment
Public & Products Liability
Public & Products Liability
Travel & Personal Accident
Travel & Personal Accident
Trustee Liability
Trustee Liability

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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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Is Your Arts Organization Ready to Step Up?

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