Production Insurance
The SPYA offers a short-term production insurance option exclusively for its Professional members with production budgets of less than $50,000. This section outlines the steps staff should follow when handling inquiries and applications for production insurance.
Who can access this coverage?
'Premium' SPYA members in good standing can purchase this insurance through SPYA at a rate of $50 for seven days of coverage. The seven days do not need to run consecutively; if the seven days are spread out, it is up to the member to make that clear when they are applying for insurance by providing SPYA with the specific dates that require coverage.
What is covered?
Up to $2,000,000 in public liability insurance and up to $250,000 in equipment rented from SPYA or from any vendor, production house or private individual anywhere in the world. Equipment insurance does not cover equipment privately owned by the SPYA member. Replacement coverage applies to equipment at the full cost to repair or replace such property at the time of loss with equivalent, new equipment, or its successor technology without deduction for depreciation. All Risk and In Transit. Coverage includes loss of use or loss of rental fees. The insurance also extends coverage for any shooting locations.
How long does coverage last?
Coverage lasts for the duration of your production (as specified by you in your application form) up to a maximum duration of eleven months.
What does the coverage extend to?
Coverage is Worldwide, subject to a $2,500 deductible for any type of claim.
Applying for Insurance via SPYA
Complete the application form.
Send application form to SPYA with a short synopsis and budget for your production.
SPYA sends your documents to our insurance company who confirms that they can process them. Typically, a certificate can be issued in 2 to 3 business days, provided no further information is required. SPYA sends the insurance certificate to the member.
Note: Insurance certificates are project-specific. A new insurance certificate is required for each new production. If a member is issued an insurance certificate and the details for the production in question change, this needs to be reported to Hub International via SPYA.
Insurance Terms and Conditions
It is the responsibility of the SPYA member availing of SPYA's insurance to ensure that their insurance application is accurate and not misleading. It is also the responsibility of the SPYA member to ensure that the coverage is in place for the duration of their production (including 'pre' and 'post' production). If a SPYA member who has availed of SPYA's insurance package provided inaccurate or misleading information, or if the SPYA member falls out of coverage during their production, it is the SPYA member and not SPYA who will be held liable for any damages.
The budget of the production applying for coverage cannot exceed $50,000. (This insurance package offered by SPYA is intended to assist members carrying out projects with lower-end budgets. Bigger-budget projects would be expected to have their own production insurance).
Any number of SPYA members can avail of SPYA production insurance at the same time. Where more than one member is availing of the insurance at the same time, those members are each covered by the full $2,000,000 public liability insurance. However, those members share the value of the equipment coverage i.e. their combined covered rented equipment value cannot exceed $250,000.
The maximum coverage duration is eleven months.
To make a claim, the SPYA member must complete a Claims Form and send it to SPYA, which will forward the claim to Hub International.