NY Approves New E&O Insurance for Members; Most States Now Cleared
May 06, 2011
Sarasota, FL - New York delivered good news this week for WEVA members who want to be sure their business is fully-protected in today's business climate. The state department of insurance approved CNA for underwriting of the same, Errors & Omissions Liability Insurance for New York members that the majority of other states have already approved. The insurance package is now an exclusive, and low-cost WEVA membership benefit for New York members, as well as members in most other states. Florida is the only remaining state still going through the approval process, which is expected to be completed shortly.
As in other states, the errors and omissions insurance (professional liability), underwritten by industry leader CNA (through Buell Insurance), approved for New York members, can now be bundled with general liability insurance (accidents), and equipment insurance (video & photo gear) for a more affordable premium overall.
Prior to the state approvals for CNA, errors and omissions insurance for wedding videographers and event filmmakers has been difficult to obtain and rarely available as an individual policy in an affordable package that is bundled with the two other top coverages 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, 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 a separate E&O insurance policy can often cost video/photo professionals more than the cost of general liability and equipment insurance combined, the inclusion of E&O in one, lower-cost package bundled with both equipment and general liability insurance represents a huge benefit with significant savings for WEVA members.
For more information and a free insurance quote, WEVA members (and non-members) may contact Buell Insurance 800-842-8355, www.buellinsurance 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.
The 21st Annual WEVA Creative Excellence Awards Competition will kick off in May (open to all industry professionals worldwide). Winning Entries will be announced and screened at WEVA EXPO 2011. For more information on WEVA industry events, and WEVA membership benefits email [email protected] or click here.
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