More States Approve Low-Cost E&O Insurance Package for Members
January 07, 2011
Sarasota, FL - WEVA members have been getting good news from state agencies to kick off the New Year! This past week CA, MA, DE, RI and Maine gave the stamp of approval many members have been waiting for.
Errors & Omissions Insurance (professional liability), underwritten by industry leader CNA, is now state-approved for WEVA members in a low-cost package bundled with General Liability (accidents) and Equipment Insurance (video & photo gear) in a majority of U.S. states. Remaining states going through the approval process include AK, WA, HI, NY, and FL.
Prior to the state approvals, E&O insurance for wedding videographers and social event filmmakers has been the most difficult insurance to obtain at a reasonable cost, and rarely available in a package that is bundled with the two other top coverages that are necessary to fully protect a professional event video business today.
For 2011, most WEVA members will now be able to add E&O coverage to their general liability and equipment insurance for nearly the same annual premium, or just a small increase, relates Brad Buell president of Buell Insurance, which has been serving WEVA members for over 15 years.
Why Event Video Professionals Need E&O Insurance
"Video professionals and digital imagers often ask, what is E&O insurance and why do I need it to protect my business if I already have general liability insurance? General liability covers injuries and accidents. E&O insurance is professional liability coverage, often known as 'peace of mind insurance' since it covers professional matters, not covered under general liability, including a missed event, contract disputes, lost or damaged footage/photos, client dispute over the final product, a lawsuit for negligence, equipment failure, and other professional liability matters," said Buell.
As Buell notes, since most separate E&O insurance policies can cost video/photo professionals more than the cost of general liability and equipment insurance combined, the inclusion of E&O in one, low-cost package that is bundled together with both equipment and general liability insurance represents a huge benefit for WEVA members.
The ability to switch to coverage that bundles "the Big Three" through a leading underwriter, which required state approvals, means significant savings and much more comprehensive insurance coverage. The newly approved bundle, available only to videographers/imagers who are current WEVA members, is underwritten by CNA.
For more information and a free insurance quote, WEVA members (and non-members) may contact Buell Insurance 800-842-8355, www.buellinsurance.com or email: [email protected]
About WEVA International
As the largest international trade association for professional wedding & event filmmakers, WEVA leads the field with education that's on the cutting-edge of industry developments and new technologies worldwide. WEVA members have access to exclusive business benefits and professional development resources. On August 24-25 WEVA will present the 21st Annual WEVA EXPO 2011 LIVE Online via interactive video worldwide, an all-new industry breakthrough. Full-EXPO registration is included as a free member benefit for all new and renewing members through March 31, 2011. Attend the WEVA-NAB 2011 Open House event and afternoon workshop on the "Groom's First Look" by WEVA Creative Excellence Award winner Jose Ortiz on Monday, April 11th at the Las Vegas Convention Center. For the eastern region, the 3rd Annual NJVA-WEVA Institute Northeast Conference will be held May 18, 2011 in Edison, NJ (near NYC). For more information on WEVA industry events and WEVA membership benefits email [email protected] or click here.
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