Equipment Insurance: Take 1
May 20, 2011 10:21 AM
Chaos Visual Productions, a live video playback and video capture production company for leading recording artists, along with production manager Chris Adamson and production designer Marc Brickman, designed the live video playback for John Mayer’s “Battle Studies” tour. They created a 50’ wide X 20’ tall LED videowall comprised of 45 Martin LC 2140 panels, four Barco 20K projectors shooting onto a custom screen, and a four-HD camera system for capture and playback.
Last summer, the $1-million indoor-only wall was put in an outside venue. When a severe storm blew in, it was destroyed.
Take1 Insurance, the entertainment arm of U.S. Risk and the insurance underwriter for Chaos, worked directly with the carrier to honor the claim on the videowall and continued to cover the remainder of the tour and all of the other tours that Chaos had out on the road.
Take 1’s specialty program has designed inland marine coverage, among other specialty covers, for the entertainment industry that automatically applies everywhere in the world without the need for additional riders or endorsements. It eliminates co-insurance, thus protecting 100 percent of the insured value of the equipment covered; provides automatic replacement cost valuation; allows for separate limits in key individual coverage areas like owned equipment, equipment rented from others, equipment in the insured’s Care Custody and Control (CCC), and equipment in transit; flood coverage for equipment in transit; and blanket limits that eliminate the need for clients’ to itemize each and every piece of equipment, cable, LED panel, being covered.
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