UNDER THE BRIGHT LIGHTS

The show--and lots of other entertainment--goes on,
with help from Entertainment Brokers International

By Phil Zinkewicz


EBi Partners

Entertainment Brokers International partners are (left to right) William Cody, Jack Cave, and Martin Ridgers.

We all know that the property and casualty insurance business insures all kinds of structures--homes, apartment complexes, high rise office buildings, offshore oil drilling platforms, ships, airplanes, spacecraft, and the list goes on. The purpose of this insurance is to provide coverage in the event that the structure, whatever it is, is damaged in some way. But, have you ever contemplated an insurance policy insuring a structure that was built for the sole purpose of being intentionally destroyed? Have you ever heard of an insurance policy insuring the well-being of a pack of rats and imposing a "rat deductible" should an unforeseen circumstance occur? Have you ever considered what a "tribal" deductible might be?

Well, all of these questions might seem very strange to the average insurer, but then Entertainment Brokers International is not your average managing agent. Headquartered in Los Angeles, and with an office in New York, Entertainment Brokers is a managing agent that has specialized in providing insurance coverages for the entertainment industry since 1989. And, as Irving Berlin wrote and Ethel Merman sang: "There's No Business Like Show Business!"

The strange situations described above are very easily explained by Bill Cody, partner of Entertainment Brokers, and Martin Ridgers, partner and director of underwriting. "In the case of the structure built to be intentionally blown up, it was a set for a movie," says Ridgers. "Unfortunately, it was blown over by windstorms before the scene could be shot. So the insurer had to pay for the set to be reconstructed so that it could be destroyed." The rats were also needed for a "shoot" on location that required them to be transported more than halfway across the country. The insurer insisted upon a "rat deductible" being put into the insurance contract should anything go wrong."

EBI Market Board Cody explains the "tribal deductible" this way. "It was a film in which the theme centered on a particular South American native tribe. Instead of using 'extras' the director insisted that the members of the tribe, who had never been outside of their own country or had much contact with modern civilization, be transported to the shooting location for the filming of one particular scene. So the insurance contract was modified to accommodate various exposures, in case anyone became ill or was injured."

These are just some of the very unusual risks that Entertainment Brokers deals with every day, not just in the film industry, but in other forms of entertainment as well. For example, the firm insures large touring groups against the prospect of their not being able to perform, or the venue not being usable when they arrive. In one incident, a performer was backing up while singing, microphone in hand, and actually fell off the stage during a rehearsal. "He was singing a high note, and then he was not!" says Ridgers.

EBI Partners
The Entertainment Brokers International partners, seated, with their account executives at their Los Angeles office.

Jack Cave, managing partner at Entertainment Brokers, says that, basically, the firm, through its network of nearly 600 independent agents, can provide insurance coverage for "almost anything that the United States public spends their discretionary dollars on for entertainment."

Says Cave: "Entertainment Brokers International was founded in 1989 to provide the entertainment industry with quality insurance products delivered with an unmatched level of service. Despite today's hard market, we have access to sufficient underwriting capacity to handle nearly any risk presented to us. Our market resources and world presence continue to signify our commitment to remain an industry leader, providing entertainment, sports, leisure, and contingency insurance on a global scale."

Cave says that the insurance requirements of the entertainment industry are as varied as the productions, events and people who seek coverage. "We can cover motion pictures and television shows, commercials, live theater productions, concerts, touring groups and equipment rental companies as well as other ancillary businesses. In addition, we offer high-value home insurance for individuals and their personal corporations. We also insure professional and amateur sports risks, motor sports and a wide variety of leisure risks. As a managing agent, we offer property, general liability, auto, and umbrella/excess liability coverage. We also offer production portfolio coverages, producers' media perils protection, event cancellation, non-appearance and various ancillary coverages throughout the United States and around the world," Cave says.

EBI can cover "almost anything that the United States public spends their discretionary dollars on for entertainment."

--Jack Cave, Managing Partner, Entertainment Brokers International

When the managing agency first started, it began writing entertainment coverage specifically for the film and television industries and for individual performers, Cave recalls. "In 1991, we started writing sports teams and events, including motor sports such as NASCAR. In 1994, we established a leisure division, which insures a wide variety of special events risks. In short, we can write a wide variety of insurance coverages for companies and individuals that are providing 'entertainment' to the public. We place all our business with A-rated companies."

Some of the exposures that fall under Entertainment Brokers' leisure division include gaming establishments. "The gaming industry has expanded rapidly in the last 10 years," says Cave. "Today, there is some form of legalized gambling in most states. I'm talking about everything from church bingo games to casinos and horse tracks."

Account handlers EBI now includes a New York office located in downtown Manhattan. Pictured are (left to right) Tara Bonaventura, Account Assistant; Wanda Phillips, Senior Account Executive; MaryAnne Aust, Account Executive; and Robert Tisdale, Account Representative.

Cave is excited about the new office that Entertainment Brokers has opened in New York. "We began writing theatrical ventures out of our office in New York a little over two years ago. Starting with only two people, we developed a strong book of business including Broadway and off-Broadway productions and the ballet as well as sports risks. But we soon began to outgrow the space, so we have opened new offices at 17 State Street in downtown Manhattan. We anticipate that our New York office will show dramatic growth by serving and expanding our presence along the eastern seaboard, especially in New York and New Jersey. We're also looking to expand that office to write more good, profitable business east of the Mississippi." Some of the shows they have insured include "The Full Monty," "Cabaret," and off-Broadway's "Bertie's Bachelorette Party."

Cave began his career in insurance straight out of college. He worked on the company side for 20 years before starting Entertainment Brokers International. Asked whether he himself has had any theatrical experience, Cave is demure at first, but then he recalls his early days in college as a "keyboard man" with a rock group called The Fabulous Morticians. Says Cave: "Everybody was picking crazy names for rock groups in those days (by the way, nothing has changed), so we picked that one. We even drove around to gigs in an old Cadillac hearse to fit the name."

EBI logo Cave went on to play with a recording group called The Classmen. Says Cave: "We opened for some pretty well-known acts, such as The Vogues, Bobby Sherman and even the Mamas and the Papas."

But that was in the past. Today, Cave concentrates all his efforts on providing insurance coverages for performers, some of the top names in the business. "We read a good deal in the papers and hear about Hollywood and Broadway stars and how temperamental and difficult to deal with they can be. But those are the exceptions. In reality, the vast majority of the people in the entertainment industry, both in front of the camera and behind it, are responsible people who are professionals at what they do. I find my work very rewarding indeed." *

For more information:

Entertainment Brokers International
Web site: www.EntBrokersIntl.com